Taxation of Chargeable Gains Act 1992 section 10

Non-resident with United Kingdom branch or agency

Section 10 establishes the circumstances under which a non-UK resident person carrying on a trade through a branch or agency in the United Kingdom is liable to capital gains tax on the disposal of certain assets.

• A non-UK resident who carries on a trade in the UK through a branch or agency is chargeable to capital gains tax on disposals of assets situated in the UK that are used in or for the purposes of the trade, or used or held by the branch or agency.
• This charge applies to assets used by the branch or agency at the time of disposal, or assets that were used by the branch or agency and were acquired or provided for use by it.
• The section was amended by the Finance Act 2019, Schedule 1, paragraph 2, reflecting changes to the taxation of non-residents in relation to UK property and trade activities.
• The provision ensures that non-residents with a UK trading presence are brought within the scope of UK capital gains tax on relevant business assets, broadly mirroring the treatment of UK-resident traders.

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