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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
, see all updates

Non residents with a UK branch or agency: disposals

TCGA92/S10

The disposal of an asset by an individual who is neither resident nor ordinarily resident* but is carrying on a trade, profession or vocation in the UK through a branch or agency will be an occasion of charge and the gain will be within the charge to Capital Gains Tax if

  • at the time of the disposal the trade, profession or vocation continues to be carried on through the branch or agency in the UK

and

  • the asset is situated in the UK

and

  • at or before the time of the disposal the asset has been

    • used in or for the purposes of the trade, profession or vocation

or

* used or held or acquired for the purposes of the branch or agency.

CG25520 explains how gains on the disposal of assets of a UK branch or agency are computed.

  • For 2013/14 and subsequent years the rules within the Statutory Residence Test will apply and ordinary residence is not considered.