Taxation of Chargeable Gains Act 1992 section 271

Other miscellaneous exemptions

Section 271 sets out a wide range of exemptions from capital gains tax for specific types of gains, particular organisations, and certain categories of assets and funds.

• Gains on government stock held by the Treasury, National Debt Commissioners, or the Crown, and gains on pension scheme investments (registered or overseas), are exempt from capital gains tax, though an exception applies for gains on taxable property held by pension schemes.
• Local authorities, local authority associations, health service bodies, and named national institutions such as the British Museum, the Natural History Museum, English Heritage, the National Heritage Memorial Fund, and qualifying scientific research associations are all exempt from capital gains tax on their chargeable gains.
• Specific exemptions also apply to consular officers disposing of assets outside the UK, trustees of asbestos compensation settlements established before 24 March 2010 under formal insolvency or compromise arrangements, overseas signatories to the International Maritime Satellite Organisation agreement, the issue departments of the Reserve Bank of India and the State Bank of Pakistan, and non-UK-resident central banks holding foreign exchange reserves (by Order in Council).
• Bonuses under certified Save As You Earn savings arrangements are disregarded for capital gains tax purposes, and the exemptions for pension funds and the House of Commons Members' Fund do not extend to gains from assets held as a member of a property investment limited liability partnership.