Taxation of Chargeable Gains Act 1992 section Schedule B1 paragraph 5

Power to modify meaning of "use as a dwelling"

Schedule B1, paragraph 5 grants the Treasury the power to amend, by regulations, the definition of "use as a dwelling" for the purposes of the non-resident capital gains tax rules on UK property.

• The Treasury may make regulations that change or clarify what counts as "use as a dwelling" for the purposes of Schedule B1.
• This power exists because the concept of residential use can be complex, and the government may need to adapt the definition to address unforeseen circumstances or avoidance.
• Any regulations made under this power can add, remove, or modify the types of property or usage that fall within the definition of dwelling use.
• This provision was introduced by Finance Act 2019 as part of the extension of non-resident capital gains tax to all UK property disposals.