Part 1 Extending Cases in which Non-Residents are Charged to Tax etc
Finance Act 2019 (2019 c 1) | Legislation

SCHEDULE 1 Chargeable Gains Accruing to Non-Residents etc

Section 13

Part 1 Extending Cases in which Non-Residents are Charged to Tax etc

1

TCGA 1992 is amended as follows.

2

For the sections contained in Part 1 substitute—

“Part 1
Capital Gains Tax and Corporation Tax on Chargeable Gains
Chapter 1
Capital Gains Tax
Charge to capital gains tax
1 Capital gains tax

(1)     Capital gains tax is charged for a tax year on chargeable gains accruing in the year to a person on the disposal of assets.

(2)     As a result of section 4 of CTA 2009, capital gains tax is not charged on gains accruing to a company, but corporation tax is chargeable instead in accordance with—

(a)     section 2 of CTA 2009,

(b)     Chapter 2 of this Part, and

(c)     other relevant provisions of the Corporation Tax Acts.

(3)     Capital gains tax is charged on the total amount of chargeable gains accruing to a person in a tax year after deducting—

(a)     any allowable losses accruing to the person in the tax year, and

(b)     so far as not previously deducted under this subsection, any allowable losses accruing to the person in any previous tax

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