SCHEDULES
SCHEDULE 46Ordinary residence
PART 3Capital gains tax: accruals basis of taxation
TCGA 1992
75
1
Section 2 (persons and gains chargeable to capital gains tax, and allowable losses) is amended as follows.
2
In subsection (1), for the words from “during any part” to the end substitute “
if the residence condition is met
”
.
3
After that subsection insert—
1A
The residence condition is—
a
in the case of an individual, that the individual is resident in the United Kingdom for the year in question,
b
in the case of personal representatives of a deceased person, that the single and continuing body mentioned in section 62(3) is resident in the United Kingdom,
c
in the case of the trustees of a settlement, that the single person mentioned in section 69(1) is resident in the United Kingdom during any part of the year in question, and
d
in any other case, that the person is resident in the United Kingdom when the gain accrues.