Section 87D — Taxation of Chargeable Gains Act 1992: Sections 87 and 87A: disregard of capital payments to non-residents

Sections 87 and 87A: disregard of capital payments to non-residents 87D 1 For the purposes of sections 87 and 87A as they apply in relation to a settlement, no account is to be taken of a capital payment (or a part of a capital payment) within subsection (2), but this—

a is subject to subsection (3) and section 87E, ... b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 A capital payment is within this subsection if (and to the extent that) it is in a tax year received from the trustees of the settlement by a beneficiary who at all times in that year is not resident in the United Kingdom, but this is subject to section 87F.

3 Subsection (1) does not apply in relation to a capital payment (or a part of a capital payment) if—

a the recipient beneficiary is a close member of the settlor's family (see section 87H) when the beneficiary receives (or is treated as receiving) the payment (or part),

b the payment (or part) is received on or after 6 April 2018, and c the settlor is resident in the United Kingdom in the tax year in which the payment (or part) is received.