Taxation of Chargeable Gains Act 1992 section 164K

Foreign residents

Section 164K restricted the availability of roll-over relief on reinvestment to persons who were UK resident or ordinarily resident. This section was part of a broader set of provisions (Chapter 1A) that have since been entirely repealed.

• Section 164K denied roll-over relief on reinvestment to individuals and trustees who were not resident or ordinarily resident in the UK at the relevant time.
• The section formed part of Chapter 1A (sections 164A to 164N) of the Taxation of Chargeable Gains Act 1992, which provided for deferral of capital gains through reinvestment in qualifying assets.
• The entire Chapter 1A, including section 164K, was repealed by the Finance Act 1998 and has no effect for acquisitions made on or after 6 April 1998.
• Any reinvestment relief claims relating to acquisitions before 6 April 1998 would still be governed by the original provisions, but no new claims can arise under these rules.