Part 3 Capital Gains Tax Rebasing
Finance (No 2) Act 2017 (2017 c 32) | Legislation

Part 3 Capital Gains Tax Rebasing

41

(1)     This paragraph applies to the disposal of an asset by an individual (“Pâ€) where—

(a)     the asset was held by P on 5 April 2017,

(b)     the disposal is made on or after 6 April 2017,

(c)     the asset was not situated in the United Kingdom at any time in the relevant period, and

(d)     P is a qualifying individual.

(2)     The relevant period is the period which—

(a)     begins with 16 March 2016 or, if later, the date on which P acquired the asset, and

(b)     ends with 5 April 2017.

(3)     P is a qualifying individual if—

(a)     section 809H of ITA 2007 (claim for remittance basis by long-term UK resident: charge) applied in relation to P for any tax year before the tax year 2017–18,

(b)     P is not an individual—

(i)     who was born in the United Kingdom, and

(ii)     whose domicile of origin was in the United Kingdom,

(c)     P was not

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