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.