Taxation of Chargeable Gains Act 1992 section 80A

Postponing gain or loss under section 80(2): interests in UK land

Section 80A allows trustees of a settlement to elect to postpone a gain or loss on an interest in UK land that is deemed to have been disposed of when the trustees cease to be UK resident, deferring it until the land is actually sold.

• Where trustees are deemed to dispose of an interest in UK land on ceasing UK residence under section 80(2), they may elect to postpone any resulting gain or loss.
• If an election is made, no gain or loss accrues at the time the deemed disposal takes place.
• When the trustees subsequently dispose of the UK land interest (in whole or in part), the postponed gain or loss (or a corresponding proportion) is treated as accruing at that later date.
• The postponed gain or loss is in addition to any gain or loss that actually arises on the subsequent disposal.