Taxation of Chargeable Gains Act 1992 section 188B

Meaning of "NRCGT group"

Section 188B defined the meaning of an "NRCGT group" for the purposes of the non-resident capital gains tax (NRCGT) provisions, but this section has now been repealed.

• Section 188B was part of a suite of provisions (sections 188A–188K) introduced by the Finance Act 2015 to support the non-resident capital gains tax regime.
• These provisions applied to disposals of UK property made on or after 6 April 2015.
• The entire group of sections, including section 188B, was removed from the legislation by the Finance Act 2019 as part of a broader reform of how non-UK residents are taxed on chargeable gains.
• 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.