Part VII Other property, businesses, investments etc.

Charities and gifts of non-business assets etc.

261 Section 260 relief: gifts to non-residents.

1

Section 260(3) shall not apply where the transferee is neither resident nor ordinarily resident in the United Kingdom.

2

Section 260(3) shall not apply where the transferee is an individual who—

a

though resident or ordinarily resident in the United Kingdom, is regarded for the purposes of any double taxation relief arrangements as resident in a territory outside the United Kingdom, and

b

by virtue of the arrangements would not be liable in the United Kingdom to tax on a gain arising on a disposal of the asset occurring immediately after its acquisition.