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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Charge to tax

TCGA92/Sch4C gains are added to the beneficiary’s other chargeable gains and taxed at the relevant rate of Capital Gains Tax. Unlike TCGA92/S87 gains a beneficiary’s personal losses can be set against TCGA92/Sch4C gains. The restriction in TCGA92/S2(4), CG38785, doesn’t apply to TCGA92/Sch4C.

Remittance basis

The remittance basis applies to TCGA92/Sch4C gains if the beneficiary is non-UK domiciled, TCGA92/Sch4C/para12A.

Increase in rate of tax

The rate of tax charged is increased if there is a delay of more than one tax year in making the capital payment, TCGA92/Sch4C/para13. The increase is calculated in the same way as TCGA92/S91, CG38795.