Taxation of Chargeable Gains Act 1992 section 1A

Territorial scope

Section 1A establishes who is liable to capital gains tax depending on whether or not they are UK resident, and which assets fall within the charge for each category.

• UK residents are chargeable to CGT on gains from disposing of assets wherever those assets are situated in the world.
• Non-UK residents are chargeable to CGT on gains from assets connected to a UK branch or agency, direct interests in UK land, and assets deriving at least 75% of their value from UK land where the person has a substantial indirect interest.
• Additional rules apply to UK resident individuals in specific circumstances, including the remittance basis, split year treatment, temporary non-residence, and gains attributed from non-resident companies or trusts.
• A person is treated as UK resident for a tax year if they are resident in the United Kingdom during any part of that year, with residence determined by the statutory residence test for individuals, and by separate rules for personal representatives and trustees.