Taxation of Chargeable Gains Act 1992 section 271ZB

Official agents of Commonwealth countries or Republic of Ireland etc.

Section 271ZB extends immunity from capital gains tax to official agents of Commonwealth countries or the Republic of Ireland who already enjoy income tax immunity, giving them the same CGT exemption as diplomatic mission staff.

• Individuals who are immune from income tax as official agents of Commonwealth countries or the Republic of Ireland under section 841 of ITA 2007 also receive immunity from capital gains tax.
• The CGT immunity granted is the same as that enjoyed by members of the staff of a diplomatic mission under the Diplomatic Privileges Act 1964.
• The definition of "member of the staff of a mission" is taken from the Diplomatic Privileges Act 1964.
• This provision ensures that official agents of Commonwealth and Irish government bodies are not disadvantaged compared to diplomatic staff when it comes to CGT on their gains.