Taxation of Chargeable Gains Act 1992 Schedule C1 paragraph 12

Interpretation

Schedule C1 paragraph 12 provides definitions and interpretation rules for the terms used throughout Schedule C1, which deals with the direct and indirect disposal of interests in UK land.

• This paragraph acts as a glossary, defining key terms used elsewhere in Schedule C1 to ensure consistent interpretation of the provisions relating to disposals of interests in UK land.
• It establishes the meaning of important concepts such as what constitutes an "interest in UK land," an "entity," and how arrangements and connected structures should be understood for the purposes of the schedule.
• The definitions provided here underpin the rules on both direct disposals of UK land and indirect disposals through entities that derive their value from UK land.
• These interpretation provisions were introduced by the Finance Act 2019 as part of the reforms extending capital gains tax to non-UK residents disposing of interests in UK land, ensuring the legislation operates with clarity and precision.