Part VII Other property, businesses, investments etc.
Miscellaneous reliefs and exemptions
263AZAF1Renewables obligation certificates for domestic microgeneration
1
A gain accruing to an individual on a disposal of a renewables obligation certificate is not a chargeable gain if—
a
the individual acquired the certificate in connection with the generation of electricity by a microgeneration system,
b
the system is installed at or near domestic premises occupied by the individual, and
c
the individual intends that the amount of electricity generated by it will not significantly exceed the amount of electricity consumed in those premises.
2
In subsection (1)—
“domestic premises” means premises used wholly or mainly as a separate private dwelling,
F2“microgeneration system” means any plant (including any equipment, apparatus or appliance) or system of plant for generating electricity or producing heat—
- a
which, in generating electricity or (as the case may be) producing heat, relies wholly or mainly on a source of energy or a technology mentioned in subsection (7) of section 82 of the Energy Act 2004, and
- b
whose capacity to generate electricity or (as the case may be) to produce heat does not exceed the capacity mentioned in subsection (8) of that section,
- a
“renewables obligation certificate” means a certificate issued under section 32B of the Electricity Act 1989 or Article 54 of the Energy (Northern Ireland) Order 2003.