Taxation of Chargeable Gains Act 1992 section 188K

Interpretation of sections 188A to 188J

Section 188K provided definitions and interpretation rules for the preceding sections 188A to 188J, which dealt with capital gains tax charges on disposals of interests in UK residential property by non-UK residents. These provisions have now been removed from the legislation.

• Section 188K served as the definitions section for the non-resident capital gains tax (NRCGT) rules contained in sections 188A to 188J of TCGA 1992.
• The entire group of sections (188A to 188K) was introduced by Finance Act 2015 and applied to disposals of UK residential property interests made on or after 6 April 2015.
• All of these sections were removed from the legislation by Finance Act 2019, as the non-resident CGT rules were replaced by a broader regime covering all UK property disposals by non-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.