Taxation of Chargeable Gains Act 1992 section 278

Allowance for foreign tax

Section 278 previously provided rules for allowing relief for foreign tax paid against UK capital gains tax liabilities, but this section has been removed from the legislation.

• Section 278 originally dealt with the allowance of foreign tax against UK chargeable gains.
• The section was omitted in its entirety by the Taxation (International and Other Provisions) Act 2010.
• The relevant provisions were relocated and consolidated into the 2010 Act, which now governs international tax relief matters.
• Any current queries regarding relief for foreign tax on capital gains should be directed to the Taxation (International and Other Provisions) Act 2010.