Taxation of Chargeable Gains Act 1992 section 94

Transfers of settled property where qualifying amounts not wholly matched

Section 94 dealt with the treatment of transfers of settled property where qualifying amounts were not wholly matched, but this section has been removed from the legislation.

• Section 94 originally addressed situations involving transfers of settled property where qualifying amounts could not be fully matched against corresponding amounts.
• The section was omitted by the Finance Act 2008, as part of wider reforms to the remittance basis rules for non-UK domiciled individuals.
• The repeal took effect from the 2008–09 tax year onwards, meaning the section has no application for that year or any subsequent tax year.
• Any historical transactions that fell within the scope of this section prior to 2008–09 would have been governed by the rules as they stood at the time.