Taxation of Chargeable Gains Act 1992 (c. 12)

Part VII U.K. Other property, businesses, investments etc.

Miscellaneous reliefs and exemptions U.K.

[F1 263AZA Renewables obligation certificates for domestic microgeneration U.K.

(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,]

• “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.]

Textual Amendments

F1 S. 263AZA inserted (with effect in accordance with s. 21(4) of the amending Act) by Finance Act 2007 (c. 11), s. 21(2)

F2 Words in s. 263AZA(2) substituted (26.5.2015) by Deregulation Act 2015 (c. 20), ss. 57(3)(a), 115(3)(e)