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HMRC internal manual

Capital Gains Manual

Non-resident companies: time limit for distribution of gains

FA2001/S80(4) replaced TCGA92/S13(5A) with new TCGA92/S13(5A) and (5B) to extend the period within which a distribution of a gain can take place and the tax paid under section 13 allowed to be set off against the liability on the distribution.

For gains accruing on or after 7 March 2001 the distribution has to be made within the earlier of

  • three years from the end of the company’s period of account in which the gain accrues, or
  • four years from the date the gain accrues.