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HMRC internal manual

Capital Gains Manual

Persons chargeable: individuals

TCGA92/S1 & TCGA92/S275

In general, for the tax years up to and including 2012/13, an individual is chargeable to Capital Gains Tax if he or she is resident or ordinarily resident in the United Kingdom during any part of the year of assessment in which a gain accrues. For this purpose, `resident’ and `ordinarily resident’ have the same meanings as in the Income Tax Acts. An individual who is resident or ordinarily resident in the UK but who is not of UK domicile (and the remittance basis applies) is liable to Capital Gains Tax on chargeable gains accruing to them on the disposal of assets situated outside the UK only to the extent that those gains are remitted to the UK. There are rules for determining where chargeable assets are situated. Any amounts which are remitted are treated as gains accruing to the non-domiciled individual at the time they are received in the UK. No relief is given for losses accruing on such assets, see CG25330.

For 2013/14 and subsequent tax years a Statutory Residence Test for individuals was introduced and an individual will either be resident or not resident in the UK for a year of assessment. Detailed guidance on the Statutory Residence Test can be found in the RDR3 Guidance Note: Statutory Residence Test (SRT).

For 2017/18 and later years a person may be regarded as deemed domiciled in the UK. If the deemed domicile rules apply the individual cannot claim the remittance basis. Guidance on the remittance basis and deemed domicile rules is in the Residence, Domicile and Remittance Basis Manual.