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Changes over time for: Section 10


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Version Superseded: 12/02/2019
Status:
Point in time view as at 15/09/2016. This version of this provision has been superseded.

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Changes to legislation:
Taxation of Chargeable Gains Act 1992, Section 10 is up to date with all changes known to be in force on or before 07 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.

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10 Non-resident with United Kingdom branch or agency.U.K.
(1)Subject to any exceptions provided by this Act, a person shall be chargeable to capital gains tax in respect of chargeable gains accruing to him in a year of assessment [if the residence condition is not met (see section 2(1A)) but the person] is carrying on a trade in the United Kingdom through a branch or agency, and shall be so chargeable on chargeable gains accruing on the disposal—
(a)of assets situated in the United Kingdom and used in or for the purposes of the trade at or before the time when the capital gain accrued, or
(b)of assets situated in the United Kingdom and used or held for the purposes of the branch or agency at or before that time, or assets acquired for use by or for the purposes of the branch or agency.
(2)Subsection (1) above does not apply unless the disposal is made at a time when the person is carrying on the trade in the United Kingdom through a branch or agency.
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)This section shall not apply to a person who, by virtue of [Part 2 of TIOPA 2010 (double taxation relief)], is exempt from income tax ... chargeable for the chargeable period in respect of the profits or gains of the branch or agency.
(5)This section shall apply as if references in subsections (1) and (2) above to a trade included references to a profession or vocation, but subsection (1) shall not apply in respect of chargeable gains accruing on the disposal of assets only used in or for the purposes of the profession or vocation before 14th March 1989 or only used or held for the purposes of the branch or agency before that date.
(6)In this Act, unless the context otherwise requires, “branch or agency” means any factorship, agency, receivership, branch or management, but does not include any person within the exemptions in section 82 of the Management Act (general agents and brokers).
Textual Amendments
Modifications etc. (not altering text)
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