SCHEDULES
SCHEDULE 1Chargeable gains accruing to non-residents etc
PART 2Consequential amendments
76TCGA 1992
1
Section 260 (gifts on which inheritance tax is chargeable etc) is amended as follows.
2
In subsection (6ZA)(a), for “non-resident CGT disposal” substitute “direct or indirect disposal of UK land which meets the non-residence condition”.
3
In subsection (6ZB), for “a reference to “chargeable NRCGT gain”” substitute “a reference to “so much of any gain accruing on the disposal as falls to be dealt with as mentioned in subsection (6ZD)(a) or (b)””.
4
In subsection (6ZC), for ““the chargeable NRCGT gain” substitute ““so much of the gain mentioned in subsection (6ZB)”.
5
After that subsection insert—
6ZD
For the purposes of subsections (6ZA) to (6ZC) a disposal is a “direct or indirect disposal of UK land which meets the non-residence condition” if it is—
a