SCHEDULES
SCHEDULE 1Chargeable gains accruing to non-residents etc
PART 2Consequential amendments
TCGA 1992
53
For section 159A substitute—
159ADisposals of interests in UK land by non-residents: roll-over relief
1
This section applies in a case where—
a
the old assets that are disposed of are interests in UK land, and
b
a chargeable gain accruing on the disposal would (apart from section 152) be within the charge to tax because of section 1A(3)(b) or 2B(4)(a).
2
Section 152 applies only if the new assets that are acquired are interests in UK land.
3
In this section—
a
“interest in UK land” has the meaning given by section 1C,
b
“the old assets” and “the new assets” have the same meaning as in section 152,
c
any reference to a disposal of the old assets includes a disposal of an interest in them,
d
the reference to the acquisition of the new assets includes the acquisition of an interest in them or entering into an unconditional contract for their acquisition.