Version Superseded: 21/07/2008
Point in time view as at 06/04/2007.
Taxation of Chargeable Gains Act 1992, Cross Heading: Residence of trustees from whom capital payment received is up to date with all changes known to be in force on or before 10 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.
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
10(1)Subject to sub-paragraph (2) below, it is immaterial for the purposes of paragraph 8 that the trustees [F2of any relevant settlement] are or have at any time been [F3resident and ordinarily resident in the United Kingdom].U.K.
(2)A capital payment received by a beneficiary of a settlement from the trustees in a year of assessment [F4during the whole of which the trustees are resident and ordinarily resident in the United Kingdom] shall be disregarded for the purposes of paragraph 8 if it was made before, but was not made in anticipation of, chargeable gains accruing under Schedule 4B or of a transfer of value being made to which that Schedule applies.
(3)For the purposes of sub-paragraph (2) the trustees of a settlement shall not be regarded as [F5resident and ordinarily resident in the United Kingdom] at any time when they fall to be regarded for the purposes of any double taxation relief arrangements as resident in a territory outside the United Kingdom.]
Textual Amendments
F2Words in Sch. 4C para. 10(1) substituted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 29 para. 6(1) (with s. 163(4)-(6))
F3Words in Sch. 4C para. 10(1) 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)
F4Words in Sch. 4C para. 10(2) substituted (6.4.2007) by Finance Act 2006 (c. 25), Sch. 12 paras. 40, 41
F5Words in Sch. 4C para. 10(3) 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)
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