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Taxation of Chargeable Gains Act 1992

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Changes over time for: Cross Heading: Chargeable amount: non-resident settlement

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Version Superseded: 12/02/2019

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Point in time view as at 26/05/2015.

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Taxation of Chargeable Gains Act 1992, Cross Heading: Chargeable amount: non-resident settlement is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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[F1Chargeable amount: non-resident settlementU.K.

Textual Amendments

F1Sch. 4C inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(4), Sch. 26 Pt. I

4(1)If the transfer of value is made in a year of assessment during which the trustees of the transferor settlement are [F2at no time resident F3... in the United Kingdom] the chargeable amount is computed under this paragraph.U.K.

(2)Where this paragraph applies the chargeable amount is the amount on which the trustees would have been chargeable to tax under section 2(2) by virtue of Schedule 4B if they had been [F4resident F5... in the United Kingdom] in the year [F6(and had made the disposals which Schedule 4B treats them as having made)].

[F7(3)Where any of the disposals which the trustees are treated as having made as mentioned in sub-paragraph (2) is a non-resident CGT disposal—

(a)any chargeable gain or allowable loss accruing on that disposal, other than an NRCGT gain chargeable to, or an NRCGT loss allowable for the purposes of, capital gains tax by virtue of section 14D, is to be treated for the purposes of sub-paragraph (2) as if it were a chargeable gain or (as the case requires) allowable loss falling to be taken into account in calculating the chargeable amount, and

(b)that disposal is otherwise to be disregarded for the purpose of calculating the chargeable amount.]]

Textual Amendments

F2Words in Sch. 4C para. 4(1) substituted (with effect in accordance with Sch. 12 para. 36(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 paras. 36(1)(2)(b), 41

F3Words in Sch. 4C para. 4(1) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 107(3)(a)

F4Words in Sch. 4C para. 4(2) substituted (with effect in accordance with Sch. 12 para. 34(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 34(1)(2)(f)

F5Words in Sch. 4C para. 4(2) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 107(3)(b)

F6Words in Sch. 4C para. 4(2) inserted (with effect in accordance with Sch. 7 para. 147 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 134 (with Sch. 7 para. 155)

F7Sch. 4C para. 4(3) inserted (with effect in accordance with Sch. 7 para. 60 of the amending Act) by Finance Act 2015 (c. 11), Sch. 7 para. 40

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