Finance Act 2019

Disposals to which Schedule applies

1 (1) This Schedule applies for the purposes of capital gains tax to—

(a) any direct or indirect disposal of UK land which meets the non-residence condition (whether or not a gain accrues) and which is made on or after 6 April 2019, and

(b) any other direct disposal of UK land on which a residential property gain accrues and which is made on or after 6 April 2020,

but this Schedule does not apply to excluded disposals.

(2) A disposal is an excluded disposal if—

(a) it is a disposal on which, as a result of any of the no gain/no loss provisions, neither a gain nor a loss accrues,

(b) it is the grant of a lease for no premium to a person not connected with the grantor under a bargain made at arm’s length,

(c) it is a disposal made by a charity, or

(d) it is a disposal of any pension scheme investments.

(3) The Treasury may by regulations amend sub-paragraph (2).

(4) See also paragraph 9 for a case where a disposal which would have been within sub-paragraph (1)(b) if a gain had accrued is treated, for certain purposes, as if it were a disposal to which this Schedule applies.