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Finance Act 2019

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This is the original version (as it was originally enacted).

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.

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