(1)Schedule 1 substitutes a new Part 1 of TCGA 1992 which—
(a)extends the cases in which gains accruing to persons not resident in the United Kingdom are chargeable to tax, and
(b)abolishes the specific charge to tax on ATED-related chargeable gains.
(2)Schedule 1 also—
(a)repeals other provisions contained in the previous version of Part 1 of TCGA 1992 or in Part 2 of that Act and restates their effect in rewritten form (whether in the new Part 1 or elsewhere),
(b)makes provision in relation to collective investment vehicles that (directly or indirectly) hold interests in land in the United Kingdom, and
(c)makes provision connected with the matters mentioned in subsection (1) or this subsection.
(1)Schedule 2 makes provision for the purposes of capital gains tax requiring returns, and payments on account of that tax, to be made where there is—
(a)any direct or indirect disposal of UK land which meets the non-residence condition (whether or not a gain accrues), or
(b)any other direct disposal of UK land on which a residential property gain accrues.
(2)Subsection (1) is to be read as if contained in Part 1 of that Schedule.