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HMRC internal manual

Capital Gains Manual

Losses: restriction of loss relief: non-residents

TCGA92/S16 (3)

A loss which accrues to a person in a year in which he or she is neither resident nor ordinarily resident* in the United Kingdom does not normally qualify for relief. But where a non-resident is carrying on a business in the UK through a branch or agency, losses are allowable if they accrue on the disposal of branch or agency assets. See CG13550+.

Similarly, a loss accruing to a non-resident company carrying on a trade in the UK through a permanent establishment, on the disposal of assets of the permanent establishment, is an allowable loss, see CG42100+.

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