[222A Determination of main residence: non-resident CGT disposals]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[222A  Determination of main residence: non-resident CGT disposals]

[(1)     This section applies where—

(a)     an individual (“P”) makes a disposal of, or of an interest in—

(i)     a dwelling-house, or part of a dwelling-house, which was at any time in P's period of ownership occupied by P as a residence, or

(ii)     land (as mentioned in section 222(1)(b)) which P had for P's own occupation and enjoyment with that residence as its garden or grounds, and

[(b)     the disposal is—

(i)     a disposal on which a residential property gain (as defined by Schedule 1B) accrues which is chargeable to capital gains tax because of section 1A(3)(b), or

(ii)     a disposal on which a loss accrues but is one which, had a gain accrued, would

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Pension commencement lump sums (PCLSs)

Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part as a tax-free lump sum. HMRC calls this a ‘pension commencement lump sum’ (PCLS). Taking a lump sum is usually at the option of the member who will

LEXISNEXIS

Removal of a director

Removal of a directorThis note should be read in conjunction with Practice Note: Appointment, retirement and resignation of a director.For an illustration of the steps that must be taken to remove a director, see Removal of a director—flowchart.Removal from officeResolution to remove a directorA

LEXISNEXIS

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these

LEXISNEXIS

Escrow accounts and escrow agreements

Escrow accounts and escrow agreementsThis Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions