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Taxation of Chargeable Gains Act 1992

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Changes over time for: Section 275B

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Point in time view as at 26/05/2015.

Changes to legislation:

Taxation of Chargeable Gains Act 1992, Section 275B 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. Help about Changes to Legislation

[F1275BSection 275A: supplementary provisionsU.K.

(1)For the purposes of section 275A, the situation of an asset is not otherwise determined if, apart from that section, this Act does not make any provision for determining—

(a)the situation of the asset, or

(b)whether the situation of the asset is in the United Kingdom.

(2)For the purposes of section 275A, an intangible asset is subject to UK law at a particular time if any right or interest which comprises or forms part of the asset is, at that time,—

(a)governed by, or otherwise subject to, or

(b)enforceable under,

the law of any part of the United Kingdom.

[F2(3)In section 275A—

  • future” has the meaning given by section 581 of CTA 2009, and

  • option” has the meaning given by section 580 of that Act.]

(4)For the purposes of section 275A—

(a)the underlying subject matter of a future is the property which, if the future were to run to delivery, would fall to be delivered at the date and price agreed when the contract is made, and

(b)the underlying subject matter of an option is the property which would fall to be delivered if the option were exercised.

(5)Section 275A is subject to section 275C (location of assets: interests of co-owners).

(6)This section is to be construed as one with section 275A.]

Textual Amendments

F1Ss. 275A, 275B inserted (with effect in accordance with Sch. 4 para. 10(1) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 4 para. 5

F2S. 275B(3) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 383 (with Sch. 2 Pts. 1, 2)

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