| Guvnor

Enforced by: HMRC
Status: Amended (in force with amendments)
Penalty ceiling: Prosecution 1 of 13 obligations carry an unlimited fine. 12 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person4 Trader4 Financial Services Firm2 Director or Officer1 Trustee1

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

Trader — also bound by 825 other Acts

Value Added Tax Regulations 1995 416 duties

Companies Act 2006 243 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 133 duties

Companies Act 1985 85 duties

Insolvency (England and Wales) Rules 2016 62 duties

Financial Services Firm — also bound by 167 other Acts

Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision (Text with EEA relevance) 63 duties

Friendly Societies Act 1992 52 duties

Commission Delegated Regulation (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties (Text with EEA relevance) 52 duties

The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges , Clearing Houses and Central Securities Depositories ) Regulations 2001 50 duties

The Credit Unions (Northern Ireland) Order 1985 43 duties

Director or Officer — also bound by 429 other Acts

Insolvency (England and Wales) Rules 2016 162 duties

Companies Act 2006 126 duties

Insolvency Act 1986 77 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 68 duties

Building Societies Act 1986 32 duties

Trustee — also bound by 104 other Acts

The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 79 duties

The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 40 duties

Charities Act 2011 27 duties

Charities Act (Northern Ireland) 2008 22 duties

Insolvency (England and Wales) Rules 2016 21 duties

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Capital gains tax and corporation tax on chargeable gains

0 of 59 sections shown

59 other sections in this Part — procedural and definitional

s.001 Capital gains tax

s.001 Territorial scope

s.001 Non-UK residents: UK branch or agency

s.001 Non-UK residents: disposing of an “interest in UK land”

s.001 Non-UK residents: assets deriving 75% of value from UK land etc

s.001 Losses deductible only when within scope of tax etc

s.001 Allowable losses to be used in most beneficial way etc

s.001 Gains accruing to UK resident individuals in split years

s.001 The main rates of CGT

s.001 Income taxed at higher rates or gains exceeding unused basic rate band

s.001 Section 1I: definitions and other supplementary provision

s.001 Annual exempt amount

s.001 Increasing annual exempt amount to reflect increases in CPI

s.001 Temporary non-residents

s.001 Section 1M(1): assets acquired in temporary period of non-residence

s.001 Definitions used in Chapter

s.002 Corporation tax on chargeable gains

s.002 Company's total profits to include chargeable gains

s.002 Territorial scope of charge to corporation tax on chargeable gains

s.002 Non-UK resident company with UK permanent establishment

s.002 Application of CGT principles in calculating gains and losses

s.002 References to income tax or Income Tax Acts in case of companies

s.002 Interaction of capital gains tax and corporation tax

s.002 Assets of a company vested in a liquidator

s.003 Gains attributed to UK resident individuals etc

s.003 Gains connected to avoidance or foreign activities etc

s.003 Participators and their interests

s.003 Prevention of double UK taxation

s.003 Individuals who were non-UK domiciled

s.003 Temporary non-residents

s.003 Non-resident groups of companies

s.003 Supplementary provisions

s.004 Rates of capital gains tax

s.004 Section 4: special cases

s.004 Deduction of losses etc in most beneficial way

s.004 Rates, and use of unused basic rate band, in certain cases

s.004 Residential property gain or loss

s.005 Accumulation and discretionary settlements.

s.006 Other special cases.

s.007 Time for payment of tax.

s.008 Company’s total profits to include chargeable gains.

s.009 Residence, including temporary residence.

s.010 Non-resident with United Kingdom branch or agency.

s.010 Temporary non-residents.

s.010 Section 10A: supplementary

s.010 Non-resident company with United Kingdom permanent establishment

s.011 Visiting forces and official agents

s.012 Non-UK domiciled individuals to whom remittance basis applies

s.013 Attribution of gains to members of non-resident companies.

s.013 Section 13(5): interpretation

s.014 Non-resident groups of companies.

s.014 Section 13: non-UK domiciled individuals

s.014 Meaning of “non-resident CGT disposal”

s.014 Meaning of “disposal of a UK residential property interest”

s.014 Persons chargeable to capital gains tax on NRCGT gains

s.014 Further provision about use of NRCGT losses

s.014 Persons not chargeable under section 14D if a claim is made

s.014 Section 14F: divided companies

s.014 Section 14F: arrangements for avoiding tax

Part 2

General Provisions relating to computation of gains and acquisitions and disposals of assets

0 of 63 sections shown

63 other sections in this Part — procedural and definitional

s.015 Computation of gains.

s.016 Computation of losses.

s.016 Restrictions on allowable losses

s.016 Losses: non-UK domiciled individuals

s.016 Individual who has made election under section 16ZA: foreign chargeable gains remitted in tax year after tax year in which accrue

s.016 Individual who has made election under section 16ZA and to whom remittance basis applies

s.016 Section 16ZC: supplementary

s.017 Disposals and acquisitions treated as made at market value.

s.018 Transactions between connected persons.

s.019 Deemed consideration in certain cases where assets disposed of in a series of transactions.

s.020 Original market value and aggregate market value for purposes of section 19.

s.021 Assets and disposals.

s.022 Disposal where capital sums derived from assets.

s.023 Receipt of compensation and insurance money not treated as a disposal.

s.024 Disposals where assets lost or destroyed, or become of negligible value.

s.024 Structures and buildings contributions allowances: destruction of asset

s.025 Non-residents: deemed disposals.

s.025 Long funding leases of plant or machinery: deemed disposals

s.025 Postponing gain or loss under section 25(3): interests in UK land

s.026 Mortgages and charges not to be treated as disposals.

s.026 Transfers in respect of dormant assets

s.027 Disposals in cases of hire-purchase and similar transactions.

s.028 Time of disposal and acquisition where asset disposed of under contract.

s.028 Contracts completed after ordinary notification period

s.029 General provisions.

s.030 Tax-free benefits.

s.031 Disposal of shares or securities by a company

s.035 Assets held on 31st March 1982 (including assets held on 6th April 1965).

s.035 Disposal of asset acquired on no gain/no loss disposal

s.036 Deferred charges on gains before 31st March 1982.

s.036 Re-basing in relation to direct or indirect disposals of UK land

s.037 Consideration chargeable to tax on income.

s.037 Consideration on disposal of certain leases

s.037 Consideration on certain disposals: structures and buildings allowances

s.038 Acquisition and disposal costs etc.

s.039 Exclusion of expenditure by reference to tax on income.

s.039 Exclusion of certain expenditure: structures and buildings allowances

s.040 Interest charged to capital.

s.041 Restriction of losses by reference to capital allowances and renewals allowances.

s.041 Restriction of losses: long funding leases of plant or machinery

s.042 Part disposals.

s.043 Assets derived from other assets.

s.044 Meaning of “wasting asset".

s.045 Exemption for certain wasting assets.

s.046 Straightline restriction of allowable expenditure.

s.047 Wasting assets qualifying for capital allowances.

s.047 Exemption for certain disposals under, or after leaving, cash basis

s.047 Disposals made by persons after leaving cash basis

s.048 Consideration due after time of disposal.

s.048 Unascertainable consideration

s.049 Contingent liabilities.

s.050 Expenditure reimbursed out of public money.

s.051 Exemption for winnings and damages etc.

s.052 Supplemental.

s.052 Chapter to apply only for corporation tax purposes

s.053 The indexation allowance and interpretative provisions.

s.054 Calculation of indexation allowance.

s.055 Assets owned on 31st March 1982 or acquired on a no gain/no loss disposal.

s.056 Part disposals and disposals on a no-gain/no-loss basis.

s.057 Receipts etc. which are not treated as disposals but affect relevant allowable expenditure.

s.057 Gains and losses on relevant high value disposals

s.057 Gains and losses on non-resident CGT disposals

s.057 Gains and losses on disposals of residential property interests

Part 3

Individuals, partnerships, trusts and collective investment schemes etc

35 of 118 sections shown

s.100 Exemption for authorised unit trusts etc.

amended 8 times (opens in a new tab)

s.100 Exemption for certain EEA UCITS

amended 8 times

s.101 Transfer of company’s assets to investment trust.

amended 2 times (opens in a new tab)

s.101 Transfer within group to investment trust.

amended 2 times

s.101 Transfer of company’s assets to venture capital trust.

amended 2 times

s.101 Transfer within group to venture capital trust.

amended 2 times

s.102 Collective investment schemes with property divided into separate parts.

amended 4 times (opens in a new tab)

s.103 Restriction on availability of indexation allowance.

amended 2 times (opens in a new tab)

s.103 Application of Act to certain offshore funds

amended 2 times

s.103 Application of section 99B to transparent funds

amended 2 times

s.103 Power to make regulations about collective investment schemes

amended 2 times

s.103 Application of Act to tax transparent funds

amended 2 times

s.103 Tax transparent funds: share pooling etc

amended 2 times

s.103 UK property rich collective investment vehicles etc

amended 2 times

s.103 Co-ownership schemes which are to be treated as partnerships

amended 2 times

s.103 Application of Chapter

amended 2 times

s.103 Exchanges of units for units in the same scheme

amended 2 times

s.103 Exchange of units for those in another collective investment scheme

amended 2 times

s.103 Scheme of reconstruction involving issue of units

amended 2 times

s.103 Scheme of reconstruction involving conversion scheme

amended 2 times

s.103 Supplementary provisions

amended 2 times

s.103 Restriction on application of sections 103G, 103H and 103I

amended 2 times

s.103 Carried interest

amended 2 times

s.103 Carried interest: consideration on disposal etc of right

amended 2 times

s.103 Carried interest: foreign chargeable gains

amended 2 times

s.103 Carried interest: anti-avoidance

amended 2 times

s.103 Carried interest: avoidance of double taxation Regulated

Claim for tax adjustments to avoid double taxation on carried interestTrader

amended 2 times

s.103 Relief for external investors on disposal of partnership asset

amended 2 times

s.103 Election for carried interest gains to be chargeable as scheme profits arise

amended 2 times

s.103 Election in relation to scheme to apply to associated schemes

amended 2 times

s.103 Interaction with other charges Regulated

Claim tax adjustments to avoid double taxation on carried interestTrader

amended 2 times

s.103 Deemed accrual of loss where carried interest never arises

amended 2 times

s.103 Anti-avoidance

amended 2 times

s.103 Meaning of “arise” in Chapter 5

amended 2 times

s.103 Interpretation of Chapter 5

amended 2 times

83 other sections in this Part — procedural and definitional

s.058 Spouses and civil partners.

s.059 Partnerships.

s.059 Limited liability partnerships.

s.059 Limited liability partnerships: deemed disposal

s.059 Alternative investment fund managers (1)

s.059 Alternative investment managers (2)

s.060 Nominees and bare trustees.

s.061 Funds in court.

s.062 Death: general provisions.

s.063 Death: application of law in Scotland.

s.063 Death: application of law in Northern Ireland

s.064 Expenses in administration of estates and trusts.

s.065 Liability for tax of trustees or personal representatives.

s.066 Insolvents’ assets.

s.067 Provisions applicable where section 79 of the Finance Act 1980 has applied.

s.068 Meaning of “settled property".

s.068 Meaning of “settlor”

s.068 Transfer between settlements: identification of settlor

s.068 Variation of will or intestacy, etc: identification of settlor

s.069 Trustees of settlements.

s.069 Sub-fund settlements

s.070 Transfers into settlement.

s.071 Person becoming absolutely entitled to settled property.

s.072 Termination of life interest on death of person entitled.

s.073 Death of life tenant: exclusion of chargeable gain.

s.074 Effect on sections 72 and 73 of relief under section 165 or 260.

s.075 Death of annuitant.

s.076 Disposal of interests in settled property.

s.076 Disposal of interest in settled property: deemed disposal of underlying assets.

s.076 Transfers of value by trustees linked with trustee borrowing.

s.077 Charge on settlor with interest in settlement.

s.078 Right of recovery.

s.079 Provisions supplemental to sections 77 and 78.

s.079 Restriction on set-off of trust losses.

s.079 Attribution to trustees of gains of non-resident companies.

s.080 Trustees ceasing to be resident in U.K.

s.080 Postponing gain or loss under section 80(2): interests in UK land

s.081 Death of trustee: special rules.

s.082 Past trustees: liability for tax.

s.083 Trustees ceasing to be liable to U.K. tax.

s.083 Trustees both resident and non-resident in a year of assessment

s.084 Acquisition by dual resident trustees.

s.085 Disposal of interests in non-resident settlements.

s.085 Transfers of value: attribution of gains to beneficiaries and treatment of losses

s.086 Attribution of gains to settlors with interest in non-resident or dual resident settlements.

s.086 Attribution of gains to settlor where temporarily non-resident

s.087 Non-UK resident settlements: attribution of gains to beneficiaries

s.087 Section 87: matching

s.087 Section 87: remittance basis

s.087 Sections 87 and 87A: disregard of capital payments made from carried interest gains

s.087 Sections 87 and 87A: disregard of certain capital payments

s.087 Sections 87 and 87A: disregard of capital payments to non-residents

s.087 Sections 87 and 87A: disregarded payments to temporary non-resident

s.087 Sections 87 and 87A: disregarded payments in year settlement ends

s.087 Settlor liable if capital payment received by close family member

s.087 Meaning of “close member of the settlor's family”

s.087 Onward gifts from non-residents or qualifying new residents

s.087 Non-UK resident settlements: recipients of onward gifts

s.087 Relevant parts of payment from which onward gift derived

s.087 Attribution of gains or payments to recipient of onward gift

s.087 Cases where settlor liable following onward gift

s.087 Cases where recipient of onward gift is user of remittance basis

s.087 Sections 87 and 87A: disregard of payments to migrating beneficiary

s.087 Sections 87 and 87A: temporary migration after payment disregarded

s.088 Gains of dual resident settlements.

s.089 Migrant settlements etc.

s.090 Sections 87 and 89(2): transfers between settlements

s.090 Section 90: transfers made for consideration in money or money's worth

s.091 Increase in tax payable under section 87 or 89(2).

s.092 Qualifying amounts and matching.

s.093 Matching: special cases.

s.094 Transfers of settled property where qualifying amounts not wholly matched.

s.095 Matching after transfer.

s.096 Payments by and to companies.

s.097 Supplementary provisions.

s.097 Value of benefit conferred by capital payment made by way of loan

s.097 Value of benefit conferred by capital payment made by way of making movable property available

s.097 Value of benefit conferred by capital payment made by way of making land available

s.098 Power to obtain information for purposes of sections 87 to 90.

s.098 Settlements with foreign element: information.

s.099 Application of Act to unit trust schemes.

s.099 Treatment of umbrella schemes

s.099 Calculation of the disposal cost of accumulation units

Part 4

Shares, securities, options etc.

110 of 128 sections shown

s.104 Share pooling: general interpretative provisions.

amended 21 times (opens in a new tab)

s.105 Disposal on or before day of acquisition of shares and other unidentified assets.

amended 9 times (opens in a new tab)

s.105 Shares acquired on same day: election for alternative treatment

amended 9 times

s.105 Provision supplementary to section 105A

amended 9 times

s.106 Disposal of shares and securities by company within prescribed period of acquisition.

amended 3 times (opens in a new tab)

s.106 Identification of securities: ... capital gains tax.

amended 3 times

s.107 Identification of securities etc: general rules for corporation tax.

amended 8 times (opens in a new tab)

s.108 Identification of relevant securities for corporation tax.

amended 11 times (opens in a new tab)

s.109 Corporation tax: pre-April 1982 share pools.

amended 2 times (opens in a new tab)

s.110 Indexation for section 104 holdings for corporation tax.

amended 6 times (opens in a new tab)

s.110 Indexation for section 104 holdings: capital gains tax.

amended 6 times

s.111 Indexation: building society etc. shares.

amended 1 time (opens in a new tab)

s.112 Parallel pooling regulations : corporation tax.

amended 2 times (opens in a new tab)

s.113 Calls on shares : corporation tax.

amended 1 time (opens in a new tab)

s.114 Consideration for options : corporation tax.

amended 3 times (opens in a new tab)

s.116 Reorganisations, conversions and reconstructions.

amended 37 times (opens in a new tab)

s.116 Holding beginning or ceasing to fall within section 490 of CTA 2009

amended 37 times

s.116 Shares beginning or ceasing to be shares to which section 521B of CTA 2009 applies

amended 37 times

s.117 Meaning of “qualifying corporate bond".

amended 30 times (opens in a new tab)

s.117 Assets that are not qualifying corporate bonds for corporation tax purposes.

amended 30 times

s.117 Holdings in unit trusts and offshore funds excluded from treatment as qualifying corporate bonds.

amended 30 times

s.118 Amount to be treated as consideration on disposal of deep discount securities etc.

amended 2 times (opens in a new tab)

s.119 Transfers of securities subject to the accrued income scheme.

amended 3 times (opens in a new tab)

s.119 Increase in expenditure by reference to tax charged in relation to employment-related securities

amended 3 times

s.119 Section 119A: unchargeable, and unremitted chargeable, foreign securities income

amended 3 times

s.119 Section 119A: unremitted Part 7A income

amended 3 times

s.120 Increase in expenditure by reference to tax charged in relation to shares etc.

amended 20 times (opens in a new tab)

s.122 Distribution which is not a new holding within Chapter II.

amended 10 times (opens in a new tab)

s.125 Shares in close company transferring assets at an undervalue.

amended 4 times (opens in a new tab)

s.125 Effect of share loss relief

amended 4 times

s.127 Equation of original shares and new holding.

amended 8 times (opens in a new tab)

s.128 Consideration given or received by holder.

amended 2 times (opens in a new tab)

s.130 Composite new holdings.

amended 2 times (opens in a new tab)

s.132 Equation of converted securities and new holding.

amended 6 times (opens in a new tab)

s.133 Premiums on conversion of securities.

amended 3 times (opens in a new tab)

s.135 Exchange of securities for those in another company

amended 10 times (opens in a new tab)

s.136 Scheme of reconstruction involving issue of securities

amended 10 times (opens in a new tab)

s.137 Restriction on application of sections 135 and 136.

amended 9 times (opens in a new tab)

s.138 Procedure for clearance in advance.

amended 10 times (opens in a new tab)

s.138 Use of earn-out rights for exchange of securities.

amended 10 times

s.138 Share exchanges involving non-UK incorporated close companies

amended 10 times

s.138 Treatment of securities connected with such exchanges

amended 10 times

s.138 Election to disapply section 135 or 136

amended 10 times

s.139 Reconstruction ... involving transfer of business.

amended 22 times (opens in a new tab)

s.140 Postponement of charge on transfer of assets to non-resident company.

amended 10 times (opens in a new tab)

s.140 Transfer or division of UK business

amended 10 times

s.140 Section 140A: anti-avoidance.

amended 10 times

s.140 Transfer or division of non-UK business

amended 10 times

s.140 Section 140C: anti-avoidance.

amended 10 times

s.140 Securities issued on division of business

amended 10 times

s.140 Merger leaving assets within UK tax charge

amended 10 times

s.140 Merger: assets outside UK tax charge

amended 10 times

s.140 Treatment of securities issued on merger

amended 10 times

s.140 Disapplication of sections 24 and 122 where subsidiary merges with its parent

amended 10 times

s.140 Share exchanges

amended 10 times

s.140 Division of business or transfer of assets

amended 10 times

s.140 Mergers

amended 10 times

s.140 Transparent entities: taxation after merger, &c

amended 10 times

s.140 Interpretation

amended 10 times

s.142 Capital gains on stock dividends.

amended 3 times (opens in a new tab)

s.142 REITs: chargeable gains on stock dividends

amended 3 times

s.143 Commodity and financial futures and qualifying options.

amended 14 times (opens in a new tab)

s.144 Options and forfeited deposits.

amended 9 times (opens in a new tab)

s.144 Cash-settled options.

amended 9 times

s.144 Application of market value rule in case of exercise of option

amended 9 times

s.144 Exception to rule in section 144ZA

amended 9 times

s.144 Section 144ZB: non-commercial exercise of option

amended 9 times

s.144 Section 144ZB: alteration of value to obtain tax advantage

amended 9 times

s.145 Call options: indexation allowance.

amended 4 times (opens in a new tab)

s.146 Options: application of rules as to wasting assets.

amended 2 times (opens in a new tab)

s.147 Quoted options treated as part of new holdings.

amended 2 times (opens in a new tab)

s.150 Business expansion schemes.

amended 11 times (opens in a new tab)

s.150 Enterprise investment scheme.

amended 11 times

s.150 Enterprise investment scheme: reduction of EIS relief.

amended 11 times

s.150 Enterprise investment scheme: re-investment.

amended 11 times

s.150 Enterprise investment scheme: application of taper relief

amended 11 times

s.150 Seed enterprise investment scheme

amended 11 times

s.150 Seed enterprise investment scheme: reduction of relief

amended 11 times

s.150 Seed enterprise investment scheme: re-investment

amended 11 times

s.151 Personal equity plans.

amended 9 times (opens in a new tab)

s.151 Venture capital trusts: reliefs.

amended 9 times

s.151 Venture capital trusts: supplementary.

amended 9 times

s.151 CITR: identification of securities or shares on a disposal

amended 9 times

s.151 CITR: rights issues etc

amended 9 times

s.151 CITR: company reconstructions etc

amended 9 times

s.151 Strips: manipulation of price: associated payment giving rise to loss

amended 9 times

s.151 Corporate strips: manipulation of price: associated payment giving rise to loss

amended 9 times

s.151 Exchange gains and losses from loan relationships: regulations

amended 9 times

s.151 Treatment of alternative finance arrangements

amended 9 times

s.151 Regulations where non-qualifying shares conditions altered

amended 9 times

s.151 Introduction

amended 9 times

s.151 Meaning of “financial institution”

amended 9 times

s.151 Purchase and resale arrangements

amended 9 times

s.151 Diminishing shared ownership arrangements : initial acquisition

amended 9 times

s.151 Diminishing shared ownership arrangements: refinancing

amended 9 times

s.151 Deposit arrangements

amended 9 times

s.151 Profit share agency arrangements

amended 9 times

s.151 Investment bond arrangements

amended 9 times

s.151 Provision not at arm's length: exclusion of arrangements from sections 151J to 151N

amended 9 times

s.151 Purchase and resale arrangements

amended 9 times

s.151 Purchase and resale arrangements where return in foreign currency

amended 9 times

s.151 Diminishing shared ownership arrangements

amended 9 times

s.151 Other arrangements

amended 9 times

s.151 Investment bond arrangements are qualifying corporate bonds

amended 9 times

s.151 Treatment of bond-holder and bond-issuer

amended 9 times

s.151 Treatment as securities

amended 9 times

s.151 Investment bond arrangements not unit trust scheme or offshore fund

amended 9 times

s.151 Exclusion of some alternative finance return from sale consideration

amended 9 times

s.151 Diminishing shared ownership arrangements : further provision

amended 9 times

s.151 Diminishing shared ownership arrangements: further provision in respect of refinancing

amended 9 times

18 other sections in this Part — procedural and definitional

s.115 Exemptions for gilt-edged securities and qualifying corporate bonds etc.

s.121 Exemption for government non-marketable securities.

s.123 Disposal of right to acquire shares or debentures.

s.124 Disposal of shares: relief in respect of income tax consequent on shortfall in distributions.

s.126 Application of sections 127 to 131.

s.129 Part disposal of new holding.

s.131 Indexation allowance.

s.134 Compensation stock.

s.148 Traded options: closing purchases.

s.148 Futures and options involving guaranteed returns

s.148 Deemed disposals at a gain under section 564(4) of ITTOIA 2005

s.148 Deemed disposals at a loss under section 564(4) of ITTOIA 2005

s.149 Rights to acquire qualifying shares.

s.149 Employment-related securities options

s.149 Restricted and convertible employment-related securities and employee shareholder shares

s.149 Shares in research institution spin-out companies

s.149 Employee incentive schemes: conditional interests in shares.

s.149 Priority share allocations

Part 5

Transfer of business assets, business asset disposal relief and investors' relief

104 of 104 sections shown

s.152 Roll-over relief.

amended 12 times (opens in a new tab)

s.153 Assets only partly replaced.

amended 6 times (opens in a new tab)

s.153 Provisional application of sections 152 and 153.

amended 6 times

s.154 New assets which are depreciating assets.

amended 10 times (opens in a new tab)

s.155 Relevant classes of assets.

amended 7 times (opens in a new tab)

s.156 Assets of Class 1.

amended 4 times (opens in a new tab)

s.156 Cessation of trade by limited liability partnership.

amended 4 times

s.156 Intangible fixed assets: roll-over relief

amended 4 times

s.156 Intangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009

amended 4 times

s.157 Trade carried on by family company: business assets dealt with by individual.

amended 1 time (opens in a new tab)

s.158 Activities other than trades, and interpretation.

amended 5 times (opens in a new tab)

s.159 Non-residents: roll-over relief.

amended 4 times (opens in a new tab)

s.159 Disposals of interests in UK land by non-residents: roll-over relief

amended 4 times

s.160 Dual resident companies: roll-over relief.

amended 1 time (opens in a new tab)

s.161 Appropriations to and from stock.

amended 26 times (opens in a new tab)

s.162 Roll-over relief on transfer of business.

amended 6 times (opens in a new tab)

s.162 Election for section 162 not to apply

amended 6 times

s.162 Disincorporation relief: assets (including pre-FA 2002 goodwill)

amended 6 times

s.162 Disincorporation relief: post-FA 2002 goodwill

amended 6 times

s.163 Relief for disposals by individuals on retirement from family business.

amended 2 times (opens in a new tab)

s.164 Other retirement relief.

amended 2 times (opens in a new tab)

s.164 Relief on re-investment for individuals.

amended 2 times

s.164 Roll-over relief on re-investment by trustees.

amended 2 times

s.164 Interaction with retirement relief

amended 2 times

s.164 Restriction applying to retirement relief and roll-over relief on re-investment.

amended 2 times

s.164 Relief carried forward into replacement shares.

amended 2 times

s.164 Application of Chapter in cases of an exchange of shares.

amended 2 times

s.164 Failure of conditions of relief.

amended 2 times

s.164 Loss of relief in cases where shares acquired on being issued.

amended 2 times

s.164 Qualifying investment acquired from husband or wife.

amended 2 times

s.164 Multiple claims.

amended 2 times

s.164 Meaning of “qualifying company".

amended 2 times

s.164 Property companies etc. not to be qualifying companies.

amended 2 times

s.164 Qualifying trades.

amended 2 times

s.164 Provisions supplementary to section 164I.

amended 2 times

s.164 Foreign residents.

amended 2 times

s.164 Anti-avoidance provisions.

amended 2 times

s.164 Exclusion of double relief.

amended 2 times

s.164 Exclusion of double relief

amended 2 times

s.164 Interpretation of Chapter IA.

amended 2 times

s.165 Relief for gifts of business assets.

amended 20 times (opens in a new tab)

s.165 Meaning of “holding company”, “trading company” and “trading group”

amended 20 times

s.166 Gifts to non-residents.

amended 4 times (opens in a new tab)

s.167 Gifts to foreign-controlled companies.

amended 4 times (opens in a new tab)

s.167 Gifts of direct or indirect interests in UK land to non-residents

amended 4 times

s.168 Emigration of donee.

amended 6 times (opens in a new tab)

s.168 Postponing held-over gain: interests in UK land

amended 6 times

s.169 Gifts into dual resident trusts.

amended 4 times (opens in a new tab)

s.169 Cessation of trade by limited liability partnership

amended 4 times

s.169 Gifts to settlor-interested settlements etc

amended 4 times

s.169 Clawback of relief if settlement becomes settlor-interested etc

amended 4 times

s.169 Exceptions to sections 169B and 169C

amended 4 times

s.169 Meaning of “settlor” in sections 169B to 169D and 169G

amended 4 times

s.169 Meaning of “interest in a settlement” in sections 169B to 169D

amended 4 times

s.169 Meaning of “arrangement” in sections 169B to 169E and information power

amended 4 times

s.169 Introduction

amended 4 times

s.169 Material disposal of business assets

amended 4 times

s.169 Disposal of trust business assets

amended 4 times

s.169 Disposal associated with relevant material disposal

amended 4 times

s.169 Relevant business assets

amended 4 times

s.169 Relevant business assets: goodwill transferred to a close company

amended 4 times

s.169 Relief to be claimed

amended 4 times

s.169 Amount of relief: general

amended 4 times

s.169 Amount of relief: special provisions for certain trust disposals

amended 4 times

s.169 Amount of relief: special provision for certain associated disposals

amended 4 times

s.169 Reorganisations: disapplication of section 127

amended 4 times

s.169 Reorganisations involving acquisition of qualifying corporate bonds

amended 4 times

s.169 Interpretation of Chapter

amended 4 times

s.169 Meaning of “trading company” and “trading group”

amended 4 times

s.169 Overview of Chapter

amended 4 times

s.169 Election by individual where company ceases to be personal company

amended 4 times

s.169 Supplementary election to defer gains until subsequent disposal

amended 4 times

s.169 Application of section 169SD where section 116 applies

amended 4 times

s.169 Application of section 169SD where sections 127 to 130 apply

amended 4 times

s.169 Elections under sections 169SC and 169SD

amended 4 times

s.169 Claims for relief in respect of subsequent disposals

amended 4 times

s.169 Overview of Chapter

amended 4 times

s.169 Eligibility conditions for deferred business asset disposal relief

amended 4 times

s.169 Operation of deferred business asset disposal relief

amended 4 times

s.169 Overview of Chapter

amended 4 times

s.169 Qualifying shares, potentially qualifying shares and excluded shares

amended 4 times

s.169 Investors' relief

amended 4 times

s.169 Disposal where holding consists partly of qualifying shares

amended 4 times

s.169 Which shares are in holding immediately before disposal

amended 4 times

s.169 Shares treated as disposed of in previous disposal where claim made

amended 4 times

s.169 Shares treated as disposed of in previous disposal: no claim made

amended 4 times

s.169 Disposals by trustees: further conditions for relief

amended 4 times

s.169 Disposals by trustees: relief reduced in certain cases

amended 4 times

s.169 Disposals of interests in shares: joint holdings etc

amended 4 times

s.169 Cap on relief for disposal by an individual

amended 4 times

s.169 Cap on relief for disposal by trustees of a settlement

amended 4 times

s.169 Claims for relief

amended 4 times

s.169 Reorganisations where no consideration given

amended 4 times

s.169 The appropriate number

amended 4 times

s.169 Reorganisations where consideration given

amended 4 times

s.169 Exchange of shares for those in another company

amended 4 times

s.169 New shares issued on scheme of reconstruction

amended 4 times

s.169 Modification of conditions for being a qualifying share

amended 4 times

s.169 Election to disapply section 127

amended 4 times

s.169 “Subscribe” etc

amended 4 times

s.169 “Trading company” etc

amended 4 times

s.169 “Relevant employee”

amended 4 times

s.169 “Unremunerated director”

amended 4 times

s.169 General definitions

amended 4 times

Part 6

Companies, oil, insurance etc.

95 of 116 sections shown

s.170 Interpretation of sections 171 to 181.

amended 30 times (opens in a new tab)

s.171 Transfers within a group: general provisions.

amended 37 times (opens in a new tab)

s.171 Election to reallocate gain or loss to another member of the group

amended 37 times

s.171 Election under section 171A: effect

amended 37 times

s.171 Elections under section 171A: insurance companies

amended 37 times

s.172 Transfer of United Kingdom branch or agency.

amended 3 times (opens in a new tab)

s.173 Transfers within a group: trading stock.

amended 2 times (opens in a new tab)

s.174 Disposal or acquisition outside a group.

amended 8 times (opens in a new tab)

s.175 Replacement of business assets by members of a group.

amended 19 times (opens in a new tab)

s.176 Depreciatory transactions within a group.

amended 11 times (opens in a new tab)

s.177 Dividend stripping.

amended 1 time (opens in a new tab)

s.177 Restriction on set-off of pre-entry losses.

amended 1 time

s.177 Restrictions on setting losses against pre-entry gains.

amended 1 time

s.178 Company ceasing to be member of group: pre-appointed day cases.

amended 1 time (opens in a new tab)

s.179 Company ceasing to be member of group: post-appointed day cases.

amended 84 times (opens in a new tab)

s.179 Reallocation within group of gain or loss accruing under section 179

amended 84 times

s.179 Roll-over of degrouping charge on business assets

amended 84 times

s.179 Claim for adjustment of calculations under section 179

amended 84 times

s.180 Transitional provisions.

amended 1 time (opens in a new tab)

s.181 Exemption from charge under 178 or 179 in the case of certain mergers.

amended 3 times (opens in a new tab)

s.185 Deemed disposal of assets on company ceasing to be resident in U.K.

amended 4 times (opens in a new tab)

s.186 Deemed disposal of assets on company ceasing to be liable to U.K. taxation.

amended 1 time (opens in a new tab)

s.187 Postponement of charge on deemed disposal under section 185 or 186.

amended 3 times (opens in a new tab)

s.187 Deemed disposal under section 185: ATED-related gains and losses

amended 3 times

s.187 Postponing gain or loss under section 185(2): interests in UK land

amended 3 times

s.188 Dual resident companies: deemed disposal of certain assets.

amended 1 time (opens in a new tab)

s.188 Election for pooling

amended 1 time

s.188 Meaning of “NRCGT group”

amended 1 time

s.188 Transfers within an NRCGT group

amended 1 time

s.188 Person chargeable to capital gains tax on NRCGT gains accruing to members of an NRCGT group

amended 1 time

s.188 Further provision about group losses

amended 1 time

s.188 Companies becoming eligible to join an NRCGT group

amended 1 time

s.188 Company ceasing to be a member of an NRCGT group

amended 1 time

s.188 The responsible members of an NRCGT group

amended 1 time

s.188 Joint and several liability of responsible members

amended 1 time

s.188 The representative company of an NRCGT group

amended 1 time

s.188 Interpretation of sections 188A to 188J

amended 1 time

s.190 Tax recoverable from another group company or controlling director.

amended 7 times (opens in a new tab)

s.192 Tax exempt distributions.

amended 5 times (opens in a new tab)

s.192 Exemptions for gains or losses on disposal of shares etc

amended 5 times

s.193 Roll-over relief not available for gains on oil licences.

amended 2 times (opens in a new tab)

s.195 Allowance of certain drilling expenditure etc.

amended 16 times (opens in a new tab)

s.195 Oil licence swaps

amended 16 times

s.195 Licence-consideration swap

amended 16 times

s.195 Company that receives mixed consideration: N exceeds C

amended 16 times

s.195 Company that receives mixed consideration: N does not exceed C

amended 16 times

s.195 Company that gives mixed consideration

amended 16 times

s.195 Reimbursed expenditure

amended 16 times

s.196 Interpretation of sections 194 to 195F.

amended 23 times (opens in a new tab)

s.197 Disposals of interests in oil fields etc: ring fence provisions.

amended 2 times (opens in a new tab)

s.198 Replacement of business assets used in connection with oil fields.

amended 4 times (opens in a new tab)

s.198 Ring fence reinvestment: whole consideration reinvested

amended 4 times

s.198 Ring fence reinvestment: part of consideration reinvested

amended 4 times

s.198 Provisional application of sections 198A and 198B

amended 4 times

s.198 No double claims

amended 4 times

s.198 Ring fence reinvestments and disposal consideration

amended 4 times

s.198 Qualification for roll-over relief

amended 4 times

s.198 Qualification for section 153 relief

amended 4 times

s.198 Acquisition by member of same group

amended 4 times

s.198 Exploration, appraisal and development expenditure

amended 4 times

s.198 Oil and gas: reinvestment after pre-trading disposal

amended 4 times

s.198 Provisional application of section 198J

amended 4 times

s.198 Expenditure by member of same group

amended 4 times

s.199 Exploration or exploitation assets: deemed disposals

amended 6 times (opens in a new tab)

s.200 Limitation of losses on disposal of oil industry assets held on 31st March 1982.

amended 1 time (opens in a new tab)

s.201 Royalties.

amended 3 times (opens in a new tab)

s.202 Capital losses.

amended 4 times (opens in a new tab)

s.203 Provisions supplementary to section 202.

amended 4 times (opens in a new tab)

s.204 Policies of insurance and non-deferred annuities

amended 5 times (opens in a new tab)

s.210 Life assurance and deferred annuities.

amended 6 times (opens in a new tab)

s.210 Ring-fencing of losses

amended 6 times

s.210 Disposal and acquisition of section 119 or 120 securities

amended 6 times

s.210 Losses on disposal of authorised investment fund assets to connected manager

amended 6 times

s.211 Transfers of business.

amended 23 times (opens in a new tab)

s.211 Gains of insurance company from venture capital investment partnership

amended 23 times

s.211 Transfers of assets to certain collective investment schemes

amended 23 times

s.211 Transfers of business: transfer of unused losses

amended 23 times

s.212 Annual deemed disposal of holdings of unit trusts etc.

amended 39 times (opens in a new tab)

s.213 Spreading of gains and losses under section 212.

amended 52 times (opens in a new tab)

s.213 Power to modify ss. 212 and 213 etc in case of CFCs that are offshore funds

amended 52 times

s.214 Transitional provisions.

amended 8 times (opens in a new tab)

s.214 Further transitional provisions.

amended 8 times

s.214 Modification of Act in relation to overseas life insurance companies.

amended 8 times

s.214 Interpretation

amended 8 times

s.214 Gains not eligible for taper relief.

amended 8 times

s.215 Disposal of assets on amalgamation of building societies etc.

amended 1 time (opens in a new tab)

s.216 Assets transferred from society to company.

amended 4 times (opens in a new tab)

s.217 Shares, and rights to shares, in successor company.

amended 4 times (opens in a new tab)

s.217 Transfer of assets on incorporation of registered friendly society.

amended 4 times

s.217 Rights of members in registered society equated with rights in incorporated society.

amended 4 times

s.217 Subsequent disposal of assets by incorporated society etc.

amended 4 times

s.217 Disposal of assets on union, amalgamation or transfer of engagements

amended 4 times

s.218 Disposals of land between the Regulator of Social Housing, the Secretary of State or Scottish Homes and housing associations.

amended 7 times (opens in a new tab)

s.219 Disposals by housing related bodies.

amended 21 times (opens in a new tab)

s.221 Harbour authorities.

amended 2 times (opens in a new tab)

21 other sections in this Part — procedural and definitional

s.182 Disposals of debts.

s.183 Disposals of shares.

s.184 Definitions and other provisions supplemental to sections 182 and 183.

s.184 Restrictions on buying losses: tax avoidance schemes

s.184 Restrictions on buying gains: tax avoidance schemes

s.184 Sections 184A and 184B: meaning of “qualifying change of ownership”

s.184 Sections 184A and 184B: meaning of “tax advantage”

s.184 Sections 184A and 184B: “pre-change assets”: basic rules

s.184 Sections 184A and 184B: “pre-change assets”: pooling rules

s.184 Avoidance involving losses: schemes converting income to capital

s.184 Avoidance involving losses: schemes securing deductions

s.184 Notices under sections 184G and 184H

s.184 Asset subject to EU exit charge on becoming chargeable asset

s.189 Capital distribution of chargeable gains: recovery of tax from shareholder.

s.194 Disposals of oil licences relating to undeveloped areas.

s.205 Disallowance of insurance premiums as expenses.

s.206 Underwriters.

s.207 Disposal of assets in premiums trust fund

s.208 Premiums trust funds: indexation.

s.209 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

s.220 Disposals by Northern Ireland housing associations.

Part 7

UK representatives of non-UK residents

10 of 10 sections shown

s.271 Overview of Chapter

amended 48 times

s.271 Branch or agency treated as UK representative

amended 48 times

s.271 Trade or profession carried on in partnership

amended 48 times

s.271 Interpretation of Chapter

amended 48 times

s.271 Introduction to Chapter

amended 48 times

s.271 Obligations and liabilities of UK representative Prosecution

UK representatives share tax obligations and liabilities with non-residentsAny Person

Unlimited fine · amended 48 times

s.271 Exceptions: notices and information

amended 48 times

s.271 Exceptions: criminal offences and penalties etc

amended 48 times

s.271 Indemnities

amended 48 times

s.271 Meaning of “non-UK resident” and “independent agent”

amended 48 times

Part 7

Other property, businesses, investments etc.

76 of 134 sections shown

s.222 Relief on disposal of private residence.

amended 24 times (opens in a new tab)

s.222 Determination of main residence: non-resident CGT disposals

amended 24 times

s.222 Non-qualifying tax years

amended 24 times

s.222 Day count test

amended 24 times

s.223 Amount of relief.

amended 23 times (opens in a new tab)

s.223 Amount of relief: non-resident CGT disposals

amended 23 times

s.223 Additional relief: part of private residence let out

amended 23 times

s.223 Amount of relief: individual’s residency delayed by certain events

amended 23 times

s.224 Relief under sections 223 and 223B : further provisions.

amended 7 times (opens in a new tab)

s.225 Private residence occupied under terms of settlement.

amended 12 times (opens in a new tab)

s.225 Private residence held by personal representatives

amended 12 times

s.225 Disposals in connection with divorce, etc

amended 12 times

s.225 Deferred payments on disposals in connection with divorce etc

amended 12 times

s.225 Sale of private residence under certain agreements with employer, etc

amended 12 times

s.225 Private residence of adult placement carer

amended 12 times

s.225 Disposals by disabled persons or persons in care homes etc

amended 12 times

s.226 Private residence occupied by dependent relative before 6th April 1988.

amended 3 times (opens in a new tab)

s.226 Private residence relief: cases where relief obtained under section 260

amended 3 times

s.226 Exception to section 226A

amended 3 times

s.227 Conditions for roll-over relief.

amended 1 time (opens in a new tab)

s.228 Conditions for relief: supplementary.

amended 8 times (opens in a new tab)

s.229 The relief.

amended 2 times (opens in a new tab)

s.230 Dwelling-houses: special provision.

amended 4 times (opens in a new tab)

s.231 Shares: special provision.

amended 3 times (opens in a new tab)

s.235 Information.

amended 1 time (opens in a new tab)

s.237 Superannuation funds, annuities and annual payments.

amended 2 times (opens in a new tab)

s.237 Share option schemes: release and replacement of options.

amended 2 times

s.238 Approved profit sharing and share option schemes.

amended 3 times (opens in a new tab)

s.239 Disposals to trustees of employee trusts

amended 2 times (opens in a new tab)

s.239 De-registration of registered pension schemes

amended 2 times

s.239 Relief for disposals by trustees of employee trusts

amended 2 times

s.241 UK furnished holiday lettings.

amended 19 times (opens in a new tab)

s.241 EEA furnished holiday lettings

amended 19 times

s.242 Small part disposals.

amended 1 time (opens in a new tab)

s.243 Part disposal to authority with compulsory powers.

amended 1 time (opens in a new tab)

s.244 Part disposal: consideration exceeding allowable expenditure.

amended 1 time (opens in a new tab)

s.246 Time of disposal and acquisition.

amended 1 time (opens in a new tab)

s.247 Roll-over relief on compulsory acquisition.

amended 2 times (opens in a new tab)

s.247 Provisional application of section 247.

amended 2 times

s.249 Grants for giving up agricultural land.

amended 1 time (opens in a new tab)

s.251 General provisions.

amended 14 times (opens in a new tab)

s.252 Foreign currency bank accounts.

amended 1 time (opens in a new tab)

s.252 Foreign currency bank accounts and the remittance basis

amended 1 time

s.253 Relief for loans to traders.

amended 25 times (opens in a new tab)

s.254 Relief for debts on qualifying corporate bonds.

amended 16 times (opens in a new tab)

s.255 Provisions supplementary to section 254.

amended 2 times (opens in a new tab)

s.255 Hold-over relief for gains re-invested in social enterprises

amended 2 times

s.255 Gains and losses on investments in social enterprises

amended 2 times

s.255 Application of section 255B(2) where maximum SI relief not obtained

amended 2 times

s.255 Application of section 255B(2) where SI relief has been reduced

amended 2 times

s.255 Reorganisations involving shares to which SI relief is attributable

amended 2 times

s.256 Charities.

amended 12 times (opens in a new tab)

s.256 Attributing gains to the non-exempt amount : charitable trusts

amended 12 times

s.256 How gains are attributed to the non-exempt amount: charitable trusts

amended 12 times

s.256 Attributing gains to the non-exempt amount: charitable companies

amended 12 times

s.256 How gains are attributed to the non-exempt amount: charitable companies

amended 12 times

s.257 Gifts to charities etc.

amended 8 times (opens in a new tab)

s.257 Tainted charity donations

amended 8 times

s.257 Associated donations in relation to tainted charity donations

amended 8 times

s.258 Works of art etc.

amended 7 times (opens in a new tab)

s.259 Gifts to housing associations.

amended 7 times (opens in a new tab)

s.260 Gifts on which inheritance tax is chargeable etc.

amended 17 times (opens in a new tab)

s.261 Section 260 relief: gifts to non-residents.

amended 3 times (opens in a new tab)

s.261 Disposal of know-how as part of disposal of all or part of a trade

amended 3 times

s.261 Treating trade loss etc as CGT loss

amended 3 times

s.261 Meaning of “the maximum amount” for purposes of section 261B

amended 3 times

s.261 Treating excess post-cessation trade or property relief as CGT loss

amended 3 times

s.261 Meaning of “the maximum amount” for purposes of section 261D

amended 3 times

s.261 Deemed manufactured payments: effect on repurchase price

amended 3 times

s.261 Price differences under repos: effect on repurchase price

amended 3 times

s.261 Power to modify section 261G in non-arm's length case

amended 3 times

s.261 Gifts of direct or indirect interests in UK land to non-residents

amended 3 times

s.265 Designated international organisations.

amended 1 time (opens in a new tab)

s.271 Other miscellaneous exemptions.

amended 48 times (opens in a new tab)

s.271 Visiting forces and staff of designated allied headquarters

amended 48 times

s.271 Official agents of Commonwealth countries or Republic of Ireland etc

amended 48 times

58 other sections in this Part — procedural and definitional

s.232 Chargeable event when replacement assets owned.

s.233 Chargeable event when replacement property owned.

s.234 Chargeable events when bonds owned.

s.236 Prevention of double charge.

s.236 Relief for transfers to share incentive plans

s.236 Exemption for employee shareholder shares

s.236 Only first £50,000 of shares under associated agreements to be exempt

s.236 Shares not exempt if shareholder or connected person has material interest in company

s.236 Identification of exempt employee shareholder shares

s.236 Reorganisation of share capital involving employee shareholder shares

s.236 Relinquishment of employment rights is not disposal of an asset

s.236 Disposals to employee-ownership trusts

s.236 Trading requirement

s.236 All-employee benefit requirement

s.236 Further provision about the equality requirement

s.236 Cases in which all-employee benefit requirement treated as met

s.236 Trustee independence requirement

s.236 Controlling interest requirement

s.236 Limited participation requirement

s.236 No section 236H relief if disqualifying event in next four tax years

s.236 Events which trigger deemed disposal and reacquisition by trustees

s.236 Relief for deemed disposals under section 71

s.236 No section 236Q relief if disqualifying event in next four tax years

s.236 Identification of shares where section 236H or 236Q applies

s.236 Further provision about significant and controlling interests

s.236 Interpretation of sections 236H to 236U

s.240 Leases of land and other assets.

s.245 Compensation paid on compulsory acquisition.

s.248 Provisions supplementary to section 247.

s.248 Roll-over relief on disposal of joint interests in land: conditions

s.248 Calculation of relief

s.248 Excluded land

s.248 Milk quotas

s.248 Relief on disposal of joint interests in private residence

s.250 Woodlands.

s.262 Chattel exemption.

s.263 Passenger vehicles.

s.263 Agreements for sale and repurchase of securities: capital gains tax

s.263 Section 263A: interpretation

s.263 Renewables obligation certificates for domestic microgeneration

s.263 Stock lending arrangements.

s.263 Stock lending involving redemption.

s.263 Stock lending: insolvency etc of borrower

s.263 Gains accruing to persons paying manufactured dividends

s.263 Structured finance arrangements

s.263 Power to modify repo provisions: non-standard repo cases

s.263 Power to modify repo provisions: redemption arrangements

s.263 Sections 263F and 263G: supplementary provisions

s.263 Powers about manufactured overseas dividends

s.263 Former employees: employment-related liabilities

s.264 Relief for local constituency associations of political parties on reorganisation of constituencies.

s.266 Inter-American Development Bank.

s.267 Sharing of transmission facilities.

s.268 Decorations for valour or gallant conduct.

s.268 Victims of National-Socialist persecution

s.268 Compensation for deprivation of foreign assets

s.269 Foreign currency for personal expenditure.

s.270 Chevening Estate.

Part 8

Supplemental

26 of 32 sections shown

s.272 Valuation: general.

amended 13 times (opens in a new tab)

s.273 Unquoted shares and securities.

amended 1 time (opens in a new tab)

s.274 Value determined for inheritance tax.

amended 1 time (opens in a new tab)

s.275 Location of assets.

amended 12 times (opens in a new tab)

s.275 Location of certain intangible assets

amended 12 times

s.275 Section 275A: supplementary provisions

amended 12 times

s.275 Location of assets: interests of co-owners

amended 12 times

s.276 The territorial sea and the continental shelf.

amended 4 times (opens in a new tab)

s.276 No gain/no loss: foreign permanent establishment exemption

amended 4 times

s.277 Double taxation relief.

amended 3 times (opens in a new tab)

s.278 Allowance for foreign tax.

amended 4 times (opens in a new tab)

s.279 Foreign assets: delayed remittances.

amended 7 times (opens in a new tab)

s.279 Deferred unascertainable consideration: election for treatment of loss

amended 7 times

s.279 Provisions supplementary to section 279A

amended 7 times

s.279 Effect of election under section 279A

amended 7 times

s.279 Elections under section 279A

amended 7 times

s.280 Consideration payable by instalments.

amended 1 time (opens in a new tab)

s.281 Payment by instalments of tax on gifts.

amended 8 times (opens in a new tab)

s.282 Recovery of tax from donee.

amended 2 times (opens in a new tab)

s.283 Repayment supplements.

amended 10 times (opens in a new tab)

s.285 Recognised investment exchanges.

amended 2 times (opens in a new tab)

s.285 UK Economic Interest Groupings European Economic Interest Groupings

amended 2 times

s.286 Connected persons: interpretation.

amended 12 times (opens in a new tab)

s.286 Residence of companies

amended 12 times

s.287 Orders and regulations made by the Treasury or the Board.

amended 7 times (opens in a new tab)

s.288 Interpretation.

amended 92 times (opens in a new tab)

6 other sections in this Part — procedural and definitional

s.284 Income tax decisions.

s.284 Concessions that defer a charge.

s.284 Provisions supplementary to section 284A.

s.289 Commencement.

s.290 Savings, transitionals, consequential amendments and repeals.

s.291 Short title.

Schedules

10 of 639 shown

s.sch004za (1) An election under paragraph 1 (a “sub-fund election”) must... Regulated

Specify effective date for sub-fund election (cannot be later than date of election)Director or Officer

s.sch005a (1) This paragraph applies if— (a) a settlement was created... Regulated

Report property transfers to non-resident trustees of pre-1998 settlementsAny Person

s.sch005a (1) This paragraph applies if a settlement is created on... Regulated

Notify HMRC of non-UK resident trust settlementAny Person

s.sch005a (1) This paragraph applies if— (a) the trustees of a... Regulated

Trustees must file a return with HMRC when settlement becomes non-UK residentTrustee

s.sch005aaa (1) A notice of revocation given by a designated HMRC... Regulated

Appeal HMRC revocation of offshore fund election within 30 daysFinancial Services Firm

s.sch005aaa (1) This paragraph applies if— (a) a disposal is deemed... Regulated

Fund manager must notify you of deemed disposals within 30 daysFinancial Services Firm

s.sch005b (1) Where, in relation to any of the relevant shares... Regulated

Notify HMRC of chargeable events affecting EIS shares within 60 daysTrader

s.sch007ad Any election under paragraph 11 or 12 must be made—... Regulated

File Schedule 7AD election with HMRC within two years of first qualifying accounting periodTrader

s.sch008b (1) The investor may make a claim for the original... Regulated

Claim social investment tax relief within annual £1 million cap and gain limitsAny Person

s.sch011 (1) Where estate duty (including estate duty leviable under the... Regulated

Other duties (1) — Crown / regulator

HMRC must use estate duty valuation for capital gains tax purposesStatutory regulator

629 other schedules

s.001 UK resident individuals to whom the remittance basis applied

s.002 Assets held on 6th April 1965

s.007 Relief for gifts of business assets

s.012 Repeals

s.sch001 (1) This paragraph applies in the case of an individual...

s.sch001 (1) This paragraph applies if— (a) gains are treated as...

s.sch001 (1) This paragraph applies in the case of an individual...

s.sch001 (1) This paragraph explains how, for the purposes of paragraph...

s.sch001 (1) For the purposes of this Schedule “ foreign asset...

s.sch001a This Schedule makes provision, for the purposes of section 1A(3)(c)...

s.sch001a (1) In determining for the purposes of paragraph 9 the...

s.sch001a (1) In the application of this Schedule in relation to...

s.sch001a (1) This paragraph applies if a person has entered into...

s.sch001a The provision made by this Schedule needs to be read...

s.sch001a (1) An asset derives at least 75% of its value...

s.sch001a (1) Subject as follows, all of the assets of the...

s.sch001a (1) A disposal of a right or interest in a...

s.sch001a (1) This paragraph applies if— (a) there are two or...

s.sch001a For the purposes of this Part of this Schedule “...

s.sch001a (1) If— (a) a person disposes of an asset consisting...

s.sch001a (1) A person (“P”) has a 25% investment in a...

s.sch001b (1) For the purposes of Chapter 1 of Part 1...

s.sch001b Regulations under any provision of this Schedule may make incidental,...

s.sch001b (1) The proportion of a chargeable gain attributable to residential...

s.sch001b (1) For the purposes of this Schedule a person “disposes...

s.sch001b (1) For the purposes of this Schedule an “ interest...

s.sch001b (1) For the purposes of this Schedule a building is...

s.sch001b (1) A building is treated for the purposes of paragraph...

s.sch001b (1) If— (a) a person disposes of an interest in...

s.sch001b (1) For the purposes of this Schedule a building is...

s.sch001b (1) The Treasury may by regulations amend this Schedule for...

s.sch001c (1) This Schedule provides for the application of section 1K...

s.sch001c (1) In the case of a settlement for the benefit...

s.sch001c (1) A settlement is a “settlement for the benefit of...

s.sch001c (1) The Treasury may by order— (a) specify circumstances in...

s.sch001c (1) This paragraph applies if settlement is not a settlement...

s.sch001c (1) This paragraph reduces the annual exempt amount for trustees...

s.sch001c (1) In this Schedule “ qualifying UK settlement ”, in...

s.sch001c (1) This paragraph— (a) applies if the trustees of a...

s.sch002 (1) This paragraph applies— (a) to shares and securities which...

s.sch002 (1) For the purposes of this Part of this Schedule,...

s.sch002 (1) The current use value of an interest in land...

s.sch002 In computing any gain accruing to a person on a...

s.sch002 (1) In this Part of this Schedule, “material development”, in...

s.sch002 (1) For the purposes of this Part, material development shall...

s.sch002 In this Part of this Schedule, unless the context otherwise...

s.sch002 (1) This paragraph applies subject to Parts I and II...

s.sch002 (1) If the person making a disposal so elects, paragraph...

s.sch002 (1) This paragraph has effect as respects shares held by...

s.sch002 (1) For the purposes of this Act, it shall be...

s.sch002 (1) Subject to paragraph 4 below and section 109(4), paragraph...

s.sch002 If under any provision in this Schedule it is to...

s.sch002 (1) This paragraph has effect where— (a) at any time,...

s.sch002 Where section 58 is applied in relation to a disposal...

s.sch002 Where section 23(4)(a) applies to exclude a gain which, in...

s.sch002 (1) Where— (a) a disposal was made out of quoted...

s.sch002 (1) This paragraph applies in relation to quoted securities as...

s.sch002 (1) In the case of companies which at the relevant...

s.sch002 (1) Where a person who has made only one of...

s.sch002 No election under paragraph 4 above shall cover quoted securities...

s.sch002 (1) In paragraphs 3 to 7 above— “quoted securities” means...

s.sch002 (1) Subject to paragraph 17(2) of Schedule 11, this Part...

s.sch003 (1) For the purposes of corporation tax, where—

s.sch003 (1) This paragraph applies where— (a) paragraph 1(1) applies to...

s.sch003 (1) Sub-paragraph (2) below applies where a person makes a...

s.sch003 If under section 35 it is to be assumed that...

s.sch003 (1) Where, in relation to a disposal to which section...

s.sch003 Section 35 shall have effect with the necessary modifications in...

s.sch003 In a case where because of paragraph 16 of Schedule...

s.sch003 (1) An election under section 35(5) shall not cover disposals...

s.sch003 (1) A company may not make an election under section...

s.sch003 (1) In paragraph 8 above “the relevant time”, in relation...

s.sch004 Where this Schedule applies— (a) in a case within paragraph...

s.sch004 (1) Subject to sub-paragraphs (2) to (4) below, this Schedule...

s.sch004 (1) This paragraph applies where this Schedule would have applied...

s.sch004 (1) Subject to sub-paragraphs (3) to (5) below, this Schedule...

s.sch004 Where— (a) a person makes a disposal of an asset...

s.sch004 (1) Sub-paragraph (2) below applies where— (a) a person makes...

s.sch004 For the purposes of this Schedule a no gain/no loss...

s.sch004 The references in paragraphs 2(1)(c) and 4(1)(b) above to the...

s.sch004 (1) No relief shall be given under this Schedule unless...

s.sch004 This Schedule applies only for the purposes of corporation tax....

s.sch004a Disposal of interest in settled property: deemed disposal of underlying assets

s.sch004a This Schedule applies where there is a disposal of an...

s.sch004a (1) The provisions of this paragraph have effect to prevent...

s.sch004a (1) This paragraph applies where chargeable gains accrue to the...

s.sch004a The provisions of paragraphs 7 and 8(1), (3), (6) and...

s.sch004a (1) This paragraph applies in a case where there is...

s.sch004a If the trustees of a settlement have elected that 508...

s.sch004a (1) For the purposes of this Schedule an “interest in...

s.sch004a (1) For the purposes of this Schedule a disposal is...

s.sch004a (1) Where this Schedule applies and the following conditions are...

s.sch004a (1) The condition as to UK residence of the trustees...

s.sch004a (1) The condition as to UK residence of the settlor...

s.sch004a (1) The condition as to settlor interest in the settlement...

s.sch004a (1) Where the interest disposed of is a right in...

s.sch004a (1) The deemed disposal shall be taken—

s.sch004aa (1) Part 2, 3 or 4 of this Schedule applies...

s.sch004aa (1) This paragraph applies if— (a) a person makes an...

s.sch004aa (1) This Part of this Schedule applies to any direct...

s.sch004aa (1) In calculating the gain or loss accruing on the...

s.sch004aa The person may make an election under this paragraph for...

s.sch004aa (1) This paragraph applies if— (a) a person makes an...

s.sch004aa (1) This paragraph applies in any case where—

s.sch004aa (1) This paragraph applies if, in calculating a gain or...

s.sch004aa (1) This Part of this Schedule applies to—

s.sch004aa (1) This paragraph applies if, in calculating a gain or...

s.sch004aa (1) An election under any provision of this Schedule must...

s.sch004aa (1) In this Schedule— (a) any reference to an interest...

s.sch004aa (1) In calculating the gain or loss accruing on the...

s.sch004aa (1) The person may make an election under this paragraph...

s.sch004aa (1) This paragraph applies if— (a) a person makes an...

s.sch004aa (1) This Part of this Schedule applies to any direct...

s.sch004aa (1) In calculating the gain or loss accruing on the...

s.sch004aa The person may make an election under this paragraph for...

s.sch004aa (1) The person may make an election under this paragraph—...

s.sch004b Transfers of value by trustees linked with trustee borrowing

s.sch004b (1) This Schedule applies where trustees of a settlement—

s.sch004b (1) Where in accordance with this Schedule a transfer of...

s.sch004b (1) This paragraph provides for determining whether the deemed disposal...

s.sch004b (1) For the purposes of this Schedule the value of...

s.sch004b (1) In this Schedule any reference to an asset includes...

s.sch004b (1) For the purposes of this Schedule trustees of a...

s.sch004b (1) This paragraph explains what is meant in this Schedule...

s.sch004b (1) For the purposes of this Schedule trustees of a...

s.sch004b (1) For the purposes of this Schedule a transfer of...

s.sch004b (1) For the purposes of this Schedule the proceeds of...

s.sch004b (1) The following are “ordinary trust assets” for the purposes...

s.sch004b (1) The alternative condition referred to in paragraph 6(2)(b) in...

s.sch004b (1) The Treasury may make provision by regulations as to...

s.sch004c Transfers of value: attribution of gains to beneficiaries

s.sch004c (1) This Schedule applies where the trustees of a settlement...

s.sch004c (1) Subject to paragraph 9(3) , it is immaterial for...

s.sch004c Without prejudice to so much of this Schedule as requires...

s.sch004c (1) This paragraph applies if— (a) by virtue of section...

s.sch004c (1) This paragraph applies where by virtue of section 1M...

s.sch004c (1) This paragraph applies if— (a) chargeable gains are treated...

s.sch004c Where a settlement ceases to exist after the trustees have...

s.sch004c (1) In this Schedule— (a) “transfer of value” has the...

s.sch004c (1) The following steps are to be taken for the...

s.sch004c (1) This paragraph explains what is meant for the purposes...

s.sch004c (1) If the transfer of value is made in a...

s.sch004c (1) For the purposes of this Schedule the chargeable amount...

s.sch004c (1) An allowable loss arising under Schedule 4B in relation...

s.sch004c (1) This paragraph applies if the trustees of the transferor...

s.sch004c (1) Chargeable gains are treated as accruing in a tax...

s.sch004c (1) This paragraph specifies what settlements are relevant settlements in...

s.sch004c Section 87B (remittance basis) applies in relation to chargeable gains...

s.sch004c (1) The following rules apply as regards the attribution of...

s.sch004c (1) Where in a year of assessment—

s.sch004c (1) For the purposes of paragraph 8 (and section 87A...

s.sch004za The trustees of a settlement (the “principal settlement”) may elect...

s.sch004za A sub-fund election must be made— (a) by notice to...

s.sch004za A sub-fund election may not be made after the second...

s.sch004za A sub-fund election must contain— (a) a declaration by each...

s.sch004za A sub-fund election may not be revoked.

s.sch004za Where a sub-fund election has been made, an officer of...

s.sch004za The notice shall specify a period of not less than...

s.sch004za (1) The persons mentioned in paragraph 14 are—

s.sch004za The sub-fund settlement shall be treated, for the purposes of...

s.sch004za (1) Each trustee of the trusts on which the property...

s.sch004za The trustees of the sub-fund settlement shall be treated for...

s.sch004za (1) A deemed disposal by the trustees of the principal...

s.sch004za If the trustees of the sub-fund settlement are treated by...

s.sch004za (1) If the trustees of the principal settlement are deemed...

s.sch004za Trustees may make a sub-fund election only if—

s.sch004za Condition 1 is that the principal settlement is not itself...

s.sch004za Condition 2 is that the sub-fund is not the whole...

s.sch004za Condition 3 is that, if the sub-fund election had taken...

s.sch004za For the purpose of Condition 3— (a) section 104(1) shall...

s.sch004za Condition 4 is that, if the sub-fund election had taken...

s.sch004za (1) For the purpose of Condition 4 a person is...

s.sch004zza Relevant high value disposals: gains and losses

s.sch004zza (1) This Schedule applies for the purposes of determining in...

s.sch004zza (1) In Cases 1 to 3 below—

s.sch004zza (1) An amount equal to the relevant fraction of the...

s.sch004zza (1) The gain or loss accruing on the relevant high...

s.sch004zza (1) A person may make an election under this paragraph...

s.sch004zza (1) This paragraph applies if— (a) an election is made...

s.sch004zza (1) This paragraph applies where conditions A and B are...

s.sch004zza (1) This paragraph applies where, as a result of a...

s.sch004zza (1) Sub-paragraph (2) applies where it is necessary, in computing...

s.sch004zza (1) Sub-paragraph (2) applies where it is to be assumed...

s.sch004zzb Non-resident CGT disposals: gains and losses

s.sch004zzb (1) This Schedule applies for the purpose of determining, in...

s.sch004zzb (1) Sub-paragraph (2) applies where the non-resident CGT disposal referred...

s.sch004zzb (1) This Part is about non-resident CGT disposals which are,...

s.sch004zzb (1) This Part of this Schedule applies where—

s.sch004zzb (1) This paragraph applies where— (a) the disposed of interest...

s.sch004zzb (1) This paragraph applies where— (a) P makes, or has...

s.sch004zzb (1) This paragraph applies where— (a) the disposed of interest...

s.sch004zzb (1) The gain or loss on the disposal of land...

s.sch004zzb (1) This paragraph applies in relation to a relevant high...

s.sch004zzb (1) In the case of a relevant high value disposal...

s.sch004zzb (1) The amount of the balancing gain or loss on...

s.sch004zzb (1) A person (“P”) making a non-resident CGT disposal of...

s.sch004zzb (1) This paragraph applies where the disposals comprised in the...

s.sch004zzb (1) Sub-paragraph (2) applies where the non-resident CGT disposal made...

s.sch004zzb This Part of this Schedule applies where the person making...

s.sch004zzb The following amounts are computed as if the computation were...

s.sch004zzb (1) Sub-paragraph (2) applies where it is necessary, for the...

s.sch004zzb (1) Sub-paragraph (2) applies where it is to be assumed...

s.sch004zzb In this Schedule— “ chargeable interest ” has the same...

s.sch004zzb (1) An election under paragraph 2(1) is irrevocable (and where...

s.sch004zzb (1) This Part of this Schedule applies where a person...

s.sch004zzb (1) Paragraphs 6 to 8 apply where—

s.sch004zzb (1) The NRCGT gain or loss accruing on the disposal...

s.sch004zzb The gain or loss accruing on the disposal which is...

s.sch004zzb (1) Where the non-resident CGT disposal is of (or of...

s.sch004zzb (1) This paragraph applies if— (a) the disposed of interest...

s.sch004zzc Disposals of residential property interests: gains and losses

s.sch004zzc (1) In this Schedule “ RPI disposal ” means a...

s.sch004zzc (1) This paragraph applies to a relevant high value disposal...

s.sch004zzc (1) Take the following steps— Step 1 Determine the amount...

s.sch004zzc (1) This paragraph applies for the purposes of Step 1...

s.sch004zzc (1) This paragraph applies for the purposes of Step 2...

s.sch004zzc (1) This paragraph applies for the purposes of computing the...

s.sch004zzc (1) The gain or loss on the disposal of land...

s.sch004zzc (1) In the case of a relevant high value disposal...

s.sch004zzc (1) The amount of the balancing gain or loss on...

s.sch004zzc (1) This paragraph applies where the disposals comprised in the...

s.sch004zzc (1) For the purposes of this Schedule, a relevant high...

s.sch004zzc (1) This paragraph applies where the RPI disposal made by...

s.sch004zzc (1) This Part of this Schedule applies where a person...

s.sch004zzc (1) The residential property gain or loss accruing on the...

s.sch004zzc The gain or loss accruing on the disposal which is...

s.sch004zzc (1) This paragraph applies where the disposal referred to in...

s.sch004zzc (1) This Part of this Schedule applies where—

s.sch004zzc (1) This paragraph applies for the interpretation of this Part...

s.sch004zzc (1) The residential property gain or loss accruing on the...

s.sch005 (1) In construing section 86(1)(e) as regards a particular year...

s.sch005 An inspector may by notice require any person who is...

s.sch005 (1) This paragraph applies if— (a) a settlement has been...

s.sch005 (1) This paragraph applies if a settlement is created on...

s.sch005 (1) This paragraph applies if— (a) the trustees of a...

s.sch005 (1) Nothing in paragraph 11, 12 or 13 above shall...

s.sch005 (1) For the purposes of section 86(1)(d) a settlor has...

s.sch005 (1) In determining for the purposes of section 86(1)(d) whether...

s.sch005 Section 86 does not apply if the settlor dies in...

s.sch005 (1) This paragraph applies where for the purposes of section...

s.sch005 (1) Section 86 does not apply in relation to a...

s.sch005 (1) This paragraph applies for the purposes of Condition D...

s.sch005 (1) This paragraph applies if— (a) the trustees of the...

s.sch005 (1) This paragraph applies where any tax becomes chargeable on,...

s.sch005 For the purposes of section 86 and this Schedule, a...

s.sch005 (1) References in section 86 and this Schedule to property...

s.sch005 (1) A settlement created on or after 19th March 1991...

s.sch005a In this Schedule “ the commencement day ” means the...

s.sch005a (1) This paragraph applies if a settlement is created on...

s.sch005a (1) Nothing in paragraph 2, 3, 4 or 5 above...

s.sch005aa In section 136 “ scheme of reconstruction ” means a...

s.sch005aa The first condition is that the scheme involves the issue...

s.sch005aa (1) The second condition is that under the scheme the...

s.sch005aa (1) The third condition is that the effect of the...

s.sch005aa The fourth condition is that— (a) the scheme is carried...

s.sch005aa Where a reorganisation of the share capital of the original...

s.sch005aa An issue of shares in or debentures of the successor...

s.sch005aa (1) In this Schedule “ ordinary share capital ” has...

s.sch005aaa (1) In this Schedule “ collective investment vehicle ” means—...

s.sch005aaa (1) This paragraph applies if an election under paragraph 8...