Version Superseded: 17/07/2013
Point in time view as at 06/04/1992. This version of this provision has been superseded.
Taxation of Chargeable Gains Act 1992, Section 83 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.
(1)This section applies if the trustees of a settlement, while continuing to be resident and ordinarily resident in the United Kingdom, become at any time (“the time concerned”) trustees who fall to be regarded for the purposes of any double taxation relief arrangements—
(a)as resident in a territory outside the United Kingdom, and
(b)as not liable in the United Kingdom to tax on gains accruing on disposals of assets (“relevant assets”) which constitute settled property of the settlement and fall within descriptions specified in the arrangements.
(2)The trustees shall be deemed for all purposes of this Act—
(a)to have disposed of their relevant assets immediately before the time concerned, and
(b)immediately to have reacquired them,
at their market value at that time.
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