HMRC internal manual

Capital Gains Manual

CG41200 - Local Authorities: definition and exemption

You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.

TCGA92/S271, TCGA92/S288, ICTA88/S519, ICTA88/S842A

TCGA92/S288 (1) introduces for capital gains purposes the definition of `local authority’ contained in ICTA88/S842A. A local authority and a local authority association (as defined in ICTA88/S519 (3)(a)) are exempt from Capital Gains Tax by virtue of TCGA92/S271 (3).