Taxation of Chargeable Gains Act 1992 section 188A

Election for pooling

Section 188A provided a mechanism allowing non-UK resident persons to elect to pool certain interests for the purposes of calculating chargeable gains, but this provision has now been repealed.

• Section 188A was part of a suite of provisions (sections 188A–188K) introduced by the Finance Act 2015, applying to disposals made on or after 6 April 2015.
• These provisions allowed non-UK residents to elect for a pooling treatment when calculating chargeable gains on certain asset disposals.
• The entire suite of sections 188A–188K was removed from the legislation by the Finance Act 2019 as part of wider reforms to the taxation of non-UK residents.
• The repeal took effect for capital gains tax purposes from the 2019–20 tax year onwards, and for corporation tax purposes for accounting periods beginning on or after 6 April 2019.

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