- Latest available (Revised)
- Point in Time (06/04/2024)
- Original (As enacted)
Point in time view as at 06/04/2024.
Taxation of Chargeable Gains Act 1992, Section 223 is up to date with all changes known to be in force on or before 18 August 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.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)No part of a gain to which section 222 applies shall be a chargeable gain if the dwelling-house or part of a dwelling-house has been the individual’s only or main residence throughout the period of ownership, or throughout the period of ownership except for all or any part of the last [F19 months] of that period.
(2)Where subsection (1) above does not apply, a fraction of the gain shall not be a chargeable gain, and that fraction shall be—
(a)the length of the part or parts of the period of ownership during which the dwelling-house or the part of the dwelling-house was the individual’s only or main residence, but inclusive of the last [F29 months] of the period of ownership in any event, divided by
(b)the length of the period of ownership.
(3)For the purposes of [F3sections 222(5) and 222A and] subsections (1) and (2) above—
(a)a period of absence not exceeding 3 years (or periods of absence which together did not exceed 3 years), and in addition
(b)any period of absence throughout which the individual worked in an employment or office all the duties of which were performed outside the United Kingdom [F4or lived with a spouse or civil partner who worked in such an employment or office], and in addition
(c)any period of absence not exceeding 4 years (or periods of absence which together did not exceed 4 years) throughout which the individual was prevented from residing in the dwelling-house or part of the dwelling-house in consequence of the situation of his place of work or in consequence of any condition imposed by his employer requiring him to reside elsewhere, being a condition reasonably imposed to secure the effective performance by the employee of his duties, [F5and in addition,]
[F6(d)any period of absence not exceeding 4 years (or periods of absence which together did not exceed 4 years) throughout which the individual lived with a spouse or civil partner in respect of whom paragraph (c) applied in respect of that period (or periods),]
shall be treated as if in that period of absence the dwelling-house or the part of the dwelling-house [F7were occupied by the individual as a residence] [F8if conditions A and B are met.]
[F9(3A)Condition A is that before the period there was a time when the dwelling-house was the individual’s only or main residence.
(3B)Condition B is that after the period—
(a)in a case falling within paragraph (a), (b), (c) or (d) of subsection (3), there was a time when the dwelling-house was the individual’s only or main residence,
(b)in a case falling within paragraph (b), (c) or (d) of that subsection, the individual was prevented from resuming residence in the dwelling-house in consequence of the situation of the individual’s place of work or a condition imposed by the terms of the individual’s employment requiring the individual to reside elsewhere, being a condition reasonably imposed to secure the effective performance by the employee of his duties, or
(c)in a case falling within paragraph (b), (c) or (d) of that subsection, the individual lived with a spouse or civil partner to whom paragraph (b) of this subsection applied.]
F10(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F11(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F11(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F12(7)In this section “period of ownership”—
(a)does not include any period before 31 March 1982, and
(b)where the whole or part of the gain to which section 222 applies is [F13a residential property gain (as defined by Schedule 1B) which is chargeable to capital gains tax because of section 1A(3)(b)], does not include any period before 6 April 2015 (but see subsection (7A)).
(7A)Paragraph (b) of the definition of “period of ownership” does not apply in a case where [F14paragraph 8 or 14 of Schedule 4AA applies] (the individual has made an election for the retrospective basis of computation to apply).
(7B)In this section “period of absence” means a period during which the dwelling-house or the part of the dwelling-house was not occupied by the individual as a residence.]
[F15(8)This section is subject to—
(a)section 224 (amount of relief: further provisions),
[F16(aa)section 225D (private residence of adult placement carer),] F17...
[F18(ab)section 225E (disposals by disabled persons or persons in care homes etc), and]
(b)section 226A (private residence relief: cases where relief obtained under section 260).]
Textual Amendments
F1Words in s. 223(1) substituted (with effect in accordance with s. 24(11) of the amending Act) by Finance Act 2020 (c. 14), s. 24(3)(a)
F2Words in s. 223(2)(a) substituted (with effect in accordance with s. 24(11) of the amending Act) by Finance Act 2020 (c. 14), s. 24(3)(a)
F3Words in s. 223(3) inserted (with effect in accordance with Sch. 9 para. 10 of the amending Act) by Finance Act 2015 (c. 11), Sch. 9 para. 4(2)(a)
F4Words in s. 223(3)(b) inserted (with effect in accordance with art. 7(5) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2009 (S.I. 2009/730), arts. 1(1), 7(2)
F5Words in s. 223(3)(c) inserted (with effect in accordance with art. 7(5) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2009 (S.I. 2009/730), arts. 1(1), 7(3)
F6S. 223(3)(d) inserted (with effect in accordance with art. 7(5) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2009 (S.I. 2009/730), arts. 1(1), 7(4)
F7Words in s. 223(3) substituted (with effect in accordance with Sch. 9 para. 10 of the amending Act) by Finance Act 2015 (c. 11), Sch. 9 para. 4(2)(b)
F8Words in s. 223(3) substituted (with effect in accordance with art. 8(4) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2009 (S.I. 2009/730), arts. 1(1), 8(2)
F9S. 223(3A)(3B) inserted (with effect in accordance with art. 8(4) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2009 (S.I. 2009/730), arts. 1(1), 8(3)
F10S. 223(4) omitted (with effect in accordance with s. 24(11) of the amending Act) by virtue of Finance Act 2020 (c. 14), s. 24(3)(b)
F11S. 223(5)(6) omitted (with effect in accordance with s. 58(4) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 58(2)(b)
F12S. 223(7)-(7B) substituted for s. 223(7) (with effect in accordance with Sch. 9 para. 10 of the amending Act) by Finance Act 2015 (c. 11), Sch. 9 para. 4(3)
F13Words in s. 223(7)(b) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 74(2)
F14Words in s. 223(7A) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 74(3)
F15S. 223(8) inserted (with effect in accordance with Sch. 22 paras. 7(3)(4), 8 of the amending Act) by Finance Act 2004 (c. 12), Sch. 22 para. 2(3)
F16S. 223(8)(aa) inserted (with effect in accordance with s. 16(4) of the amending Act) by Finance (No. 3) Act 2010 (c. 33), s. 16(1)
F17Word in s. 223(8) omitted (with effect in accordance with s. 58(4) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 58(2)(c)
F18S. 223(8)(ab) inserted (with effect in accordance with s. 58(4) of the amending Act) by Finance Act 2014 (c. 26), s. 58(2)(c)
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: