Taxation (International and Other Provisions) Act 2010 section 105

Meaning of "chargeable gain"

Section 105 defines what "chargeable gain" means when this part of the legislation applies to capital gains tax.

• This section provides a definition of "chargeable gain" for the purposes of the international provisions relating to capital gains tax.
• The definition adopts the same meaning as used in the Taxation of Chargeable Gains Act 1992 (TCGA 1992).
• In particular, the definition refers to section 15(2) of TCGA 1992, which sets out how chargeable gains are computed.
• This ensures consistency between the international tax provisions and the main capital gains tax legislation.