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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Arrival in and departure from the UK: establishing the correct time when a gain arises: establishing basic facts

When an individual claims that a disposal is exempt because of the actual date of disposal (see CG12700+) you should firstly establish the facts concerning two basic points:

  • what is the date of disposal in a written contract?


  • what is the individual’s residence status on that date?

In the case of a disposal under an unconditional contract the date of disposal is the date the contract is entered into not the date of completion (TCGA92/S28(1), CG14261+). However, it is not unknown for individuals and/or their agents to quote the date of completion as the disposal date. It can therefore be worth checking that the date quoted is not in fact the completion date.