Taxes Management Act 1970 section 7A

Disregard of certain NRCGT gains for purposes of section 7

Section 7A provides that certain non-resident capital gains tax (NRCGT) gains should be ignored when determining whether a person needs to notify HMRC of their chargeability to tax under section 7.

• Where a non-resident disposes of UK property and the gain is an NRCGT gain, that gain may be disregarded for the purposes of the section 7 obligation to notify chargeability to income tax or capital gains tax.
• This applies where the NRCGT gain has already been reported and dealt with under separate NRCGT reporting requirements, so there is no need for a duplicate notification under section 7.
• The provision was amended by Finance Act 2019 Schedule 2, paragraph 25(2), reflecting changes to the non-resident capital gains tax regime.
• The effect is to prevent non-residents from being required to notify HMRC twice in respect of the same gain — once under NRCGT rules and again under general notification of chargeability rules.

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