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HMRC internal manual

Capital Gains Manual

Persons chargeable: exempt persons: exemptions

Certain persons are statutorily exempt or partially exempt under broadly the same conditions and to a similar extent as for Income Tax. For example

  • charities, provided the proceeds of any disposal are applicable and applied for charitable purposes, see CG67500+.
  • superannuation funds, see CG67650+.
  • local authorities, see CG41200.
  • trade unions, see CG67600+.
  • friendly societies, see CG41600+.
  • scientific research associations, see CG10775.
  • persons entitled to diplomatic privilege, see below.

TCGA92/S11 & TCGA92/S271 (1) (f)

Diplomatic Privilege

Agents-General of Commonwealth countries and their staffs, members of NATO forces and certain consular officials are granted exemption from Capital Gains Tax on gains from certain classes of property corresponding to the existing reliefs which they are allowed for Income Tax. The position of other diplomats is covered by the Diplomatic Privileges Act 1964, which gave effect to the Vienna Convention, under Article 34 of which a `diplomatic agent’ is exempt from all taxes of the country to which he is accredited except, among other things, `dues and taxes on private income having its source in the receiving state and capital taxes on investment made in commercial undertakings in the receiving states’. Detailed instructions are to be found at Re2250+.