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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
, see all updates

Persons chargeable: general

TCGA92/S2 (1), TCGA92/S10, TCGA92/S10B & TCGA92/276

Persons, including companies, are chargeable to tax in respect of chargeable gains if, in the year of assessment or accounting period in which the disposal is made, they are

  • resident or, in the case of a person other than a company, ordinarily resident* in the UK, or
  • in the case of a person other than a company, non-resident and carrying on a business in the UK through a branch or agency (in respect of assets connected with the branch or agency only), see CG25550+, or
  • in the case of a company, non-resident and carrying on business in the UK through a permanent establishment (in respect of assets connected with the permanent establishment only), see CG42100+, or
  • in the case of a company, (that is either resident or not resident in the UK) an ATED related gain accrues, see CG73600+, or
  • associated with exploration or exploitation activities in a designated area of the continental shelf (in respect of assets connected with those activities only).

`UK’ means Great Britain and Northern Ireland. It includes the territorial sea of the UK but it does not include the Irish Republic, the Isle of Man or the Channel Islands.

  • For 2013/14 and subsequent tax years ordinary residence does not need to be considered.