PART 1Direct taxes

Chargeable gains: interests in UK land etc

13Disposals by non-UK residents etc

1

Schedule 1 substitutes a new Part 1 of TCGA 1992 which—

a

extends the cases in which gains accruing to persons not resident in the United Kingdom are chargeable to tax, and

b

abolishes the specific charge to tax on ATED-related chargeable gains.

2

Schedule 1 also—

a

repeals other provisions contained in the previous version of Part 1 of TCGA 1992 or in Part 2 of that Act and restates their effect in rewritten form (whether in the new Part 1 or elsewhere),

b

makes provision in relation to collective investment vehicles that (directly or indirectly) hold interests in land in the United Kingdom, and

c

makes provision connected with the matters mentioned in subsection (1) or this subsection.

14Disposals of UK land etc: payments on account of capital gains tax

1

Schedule 2 makes provision for the purposes of capital gains tax requiring returns, and payments on account of that tax, to be made where there is—

a

any direct or indirect disposal of UK land which meets the non-residence condition (whether or not a gain accrues), or

b

any other direct disposal of UK land on which a residential property gain accrues.

2

Subsection (1) is to be read as if contained in Part 1 of that Schedule.