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Finance Act 2019

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Disposals to which Schedule applies

1(1)This Schedule applies for the purposes of capital gains tax to—

(a)any direct or indirect disposal of UK land which meets the non-residence condition (whether or not a gain accrues) and which is made on or after 6 April 2019, and

(b)any other direct disposal of UK land on which a residential property gain accrues and which is made on or after 6 April 2020,

but this Schedule does not apply to excluded disposals.

(2)A disposal is an excluded disposal if—

(a)it is a disposal on which, as a result of any of the no gain/no loss provisions, neither a gain nor a loss accrues,

(b)it is the grant of a lease for no premium to a person not connected with the grantor under a bargain made at arm’s length,

(c)it is a disposal made by a charity, or

(d)it is a disposal of any pension scheme investments.

(3)The Treasury may by regulations amend sub-paragraph (2).

(4)See also paragraph 9 for a case where a disposal which would have been within sub-paragraph (1)(b) if a gain had accrued is treated, for certain purposes, as if it were a disposal to which this Schedule applies.

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