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Taxation of Chargeable Gains Act 1992, Cross Heading: “Interest in non-UK land” is up to date with all changes known to be in force on or before 02 June 2024. 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.
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Textual Amendments
F1Sch. BA1 inserted (with effect in accordance with s. 83(17) of the amending Act) by Finance Act 2016 (c. 24), Sch. 11 para. 5
2(1)In this Schedule “interest in non-UK land” means—U.K.
(a)an estate, interest, right or power in or over land outside the United Kingdom, or
(b)the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power,
other than an excluded interest.
(2)The following are excluded interests—
(a)any security interest;
(b)a licence to use or occupy land.
(3)In sub-paragraph (2) “security interest” means an interest or right held for the purpose of securing the payment of money or the performance of any other obligation.
(4)The Treasury may by regulations—
(a)provide that any other description of interest or right in relation to land outside the United Kingdom is an excluded interest;
(b)exclude from sub-paragraph (2) such interests or rights as may be prescribed in the regulations.
(5)Regulations under sub-paragraph (4) may make incidental, consequential, supplementary or transitional provision or savings.]
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