Dwellings subject to ATED: disposals chargeable under TCGA92/S2B
As set out at CG73611, section 2B imposes a charge to capital gains tax on gains that are ATED-related (see CG73625+) and accrue on ‘relevant high value disposals’ of residential property in the UK. TCGA92/S2C gives the meaning of ‘relevant high value disposal’. It is a disposal that meets the four conditions A to D—
- The disposal is a disposal, or part disposal, of a ‘chargeable interest’, see CG73617.
- The chargeable interest disposed of has been, or been part of, a ‘single-dwelling interest’ at some time during the ‘relevant ownership period’ of the person making the disposal, see CG73618.
- The person making the disposal, or in certain circumstances another person, has been liable to ATED in respect of the single-dwelling interest, see CG73619
- The consideration for the disposal exceeds the ‘threshold amount’ for that disposal, see CG73620.