Taxation of Chargeable Gains Act 1992
Sections and provisions with full text and the judgments that cite each one.
Section 70 — Transfers into settlement.
Transfers into settlement. 70 A transfer into settlement, whether revocable or irrevocable, is a disposal of the entire property thereby becoming settled property notwithstanding that the transferor…
Section 71 — Person becoming absolutely entitled to settled property.
Person becoming absolutely entitled to settled property. 71 1 On the occasion when a person becomes absolutely entitled to any settled property as against the trustee all the assets forming part of…
Section 72 — Termination of life interest on death of person entitled.
Termination of life interest on death of person entitled. 72 1 On the termination, on the death of the person entitled to it, of an interest in possession in all or any part of settled property— a…
Section 73 — Death of life tenant: exclusion of chargeable gain.
Death of life tenant: exclusion of chargeable gain. 73 1 Where, by virtue of section 71(1), the assets forming part of any settled property are deemed to be disposed of and reacquired by the trustee…
Section 74 — Effect on sections 72 and 73 of relief under section 165 or 260.
Effect on sections 72 and 73 of relief under section 165 or 260. 74 1 This section applies where— a a claim for relief was made under section 165 or 260 in respect of the disposal of an asset to a…
Section 75 — Death of annuitant.
Death of annuitant. 75 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 76 — Disposal of interests in settled property.
Disposal of interests in settled property. 76 1 Subject to subsection (1A) below No chargeable gain shall accrue on the disposal of an interest created by or arising under a settlement (including, in…
Section 76A — Disposal of interest in settled property: deemed disposal of underlying assets.
Disposal of interest in settled property: deemed disposal of underlying assets. 76A Schedule 4A to this Act has effect with respect to disposals for consideration of an interest in settled property.
Section 76B — Transfers of value by trustees linked with trustee borrowing.
Transfers of value by trustees linked with trustee borrowing. 76B Schedule 4B to this Act has effect with respect to transfers of value by trustees that are, in accordance with the Schedule, treated…
Section 77 — Charge on settlor with interest in settlement.
Charge on settlor with interest in settlement. 77 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 78 — Right of recovery.
Right of recovery. 78 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 79 — Provisions supplemental to sections 77 and 78.
Provisions supplemental to sections 77 and 78. 79 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 79A — Restriction on set-off of trust losses.
Restriction on set-off of trust losses. 79A 1 This section applies to a chargeable gain accruing to the trustees of a settlement where— a in computing the gain, the allowable expenditure is reduced…
Section 79B — Attribution to trustees of gains of non-resident companies.
Attribution to trustees of gains of non-resident companies. 79B 1 This section applies where the trustees of a settlement are participators— a in a close company, or b in a company that is not…
Section 80 — Trustees ceasing to be resident in U.K.
Trustees ceasing to be resident in U.K. 80 1 This section applies if the trustees of a settlement become at any time (“ the relevant time ”) not resident in the United Kingdom. 2 The trustees shall…
Section 80A — Postponing gain or loss under section 80(2): interests in UK land
Postponing gain or loss under section 80(2): interests in UK land 80A 1 This section applies if— a an interest in UK land is deemed to have been disposed of under section 80(2) by trustees of a…
Section 81 — Death of trustee: special rules.
Death of trustee: special rules. 81 1 Subsection (2) below applies where— a section 80 applies as a result of the death of a trustee of the settlement, and b within the period of 6 months beginning…
Section 82 — Past trustees: liability for tax.
Past trustees: liability for tax. 82 1 This section applies where— a section 80 applies as regards the trustees of a settlement (“ the migrating trustees ”), and b any capital gains tax which is…
Section 83 — Trustees ceasing to be liable to U.K. tax.
Trustees ceasing to be liable to U.K. tax. 83 1 This section applies if the trustees of a settlement, while continuing to be resident ... in the United Kingdom, become at any time (“ the time…
Section 83A — Trustees both resident and non-resident in a year of assessment
Trustees both resident and non-resident in a year of assessment 83A 1 This section applies if a chargeable gain accrues to the trustees of a settlement on the disposal by them of an asset in a year…
Section 84 — Acquisition by dual resident trustees.
Acquisition by dual resident trustees. 84 1 Section 152 shall not apply where— a the new assets are, or the interest in them is, acquired by the trustees of a settlement, b at the time of the…
Section 85 — Disposal of interests in non-resident settlements.
Disposal of interests in non-resident settlements. 85 1 Subsection (1) of section 76 shall not apply to the disposal of an interest in settled property, other than one treated under subsection (2) of…
Section 85A — Transfers of value: attribution of gains to beneficiaries and treatment of losses
Transfers of value: attribution of gains to beneficiaries and treatment of losses 85A 1 Schedule 4C to this Act has effect with respect to the attribution of gains to beneficiaries where there has…
Section 86 — Attribution of gains to settlors with interest in non-resident or dual resident settlements.
Attribution of gains to settlors with interest in non-resident or dual resident settlements. 86 1 This section applies where the following conditions are fulfilled as regards a settlement in a…
Section 86A — Attribution of gains to settlor where temporarily non-resident
Attribution of gains to settlor where temporarily non-resident 86A 1 Subsection (3) applies if— a chargeable gains of an amount equal to the amount referred to in section 86(1)(e) for a tax year…
Section 87 — Non-UK resident settlements: attribution of gains to beneficiaries
Non-UK resident settlements: attribution of gains to beneficiaries 87 1 This section applies to a settlement for a tax year (“the relevant tax year”) if there is no time in that year when the…
Section 87A — Section 87: matching
Section 87: matching 87A 1 This section supplements section 87. 2 The following steps are to be taken for the purposes of matching capital payments with section 1(3) amounts . Step 1 Find the section…
Section 87BA — Sections 87 and 87A: disregard of capital payments made from carried interest gains
Sections 87 and 87A: disregard of capital payments made from carried interest gains 87BA 1 This section applies to a settlement where— a a chargeable gain accruing by virtue of the trustee’s…
Section 87HA — Onward gifts from non-residents or qualifying new residents
Onward gifts from non-residents or qualifying new residents 87HA 1 Subsection (2) applies if— a a person (“the original recipient”) receives a capital payment (“the original benefit”) from the…
Section 87B — Section 87: remittance basis
Section 87: remittance basis 87B 1 This section applies if— a chargeable gains were treated under section 87 , 87K or 87L as accruing to an individual in the tax year 2024-25 or an earlier tax year ,…
Section 87C — Sections 87 and 87A: disregard of certain capital payments
Sections 87 and 87A: disregard of certain capital payments 87C 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…
Section 87D — 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…
Section 87E — Sections 87 and 87A: disregarded payments to temporary non-resident
Sections 87 and 87A: disregarded payments to temporary non-resident 87E 1 If— a as a result of section 87D, no account is taken of a capital payment (or a part of a capital payment) for the purposes…
Section 87F — Sections 87 and 87A: disregarded payments in year settlement ends
Sections 87 and 87A: disregarded payments in year settlement ends 87F 1 This section applies in relation to a settlement if— a in a particular tax year, the settlement ceases to exist, b two or more…
Section 87G — Settlor liable if capital payment received by close family member
Settlor liable if capital payment received by close family member 87G 1 Subsection (2) applies if in the case of a settlement— a a beneficiary of the settlement receives a capital payment from the…
Section 87H — Meaning of “close member of the settlor's family”
Meaning of “close member of the settlor's family” 87H 1 For the purposes of sections 87D and 87G as they apply in relation to a settlement, a person is a close member of the settlor's family at any…
Section 87I — Non-UK resident settlements: recipients of onward gifts
Non-UK resident settlements: recipients of onward gifts 87I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 87J — Relevant parts of payment from which onward gift derived
Relevant parts of payment from which onward gift derived 87J . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 87K — Attribution of gains or payments to recipient of onward gift
Attribution of gains or payments to recipient of onward gift 87K . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 87L — Cases where settlor liable following onward gift
Cases where settlor liable following onward gift 87L . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 87M — Cases where recipient of onward gift is user of remittance basis
Cases where recipient of onward gift is user of remittance basis 87M . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 87N — Sections 87 and 87A: disregard of payments to migrating beneficiary
Sections 87 and 87A: disregard of payments to migrating beneficiary 87N 1 For the purposes of sections 87 and 87A as they apply in relation to a settlement for a particular tax year, no account is to…
Section 87P — Sections 87 and 87A: temporary migration after payment disregarded
Sections 87 and 87A: temporary migration after payment disregarded 87P 1 If— a as a result of section 87N, no account is taken of a capital payment (or a part of a capital payment) for the purposes…
Section 88 — Gains of dual resident settlements.
Gains of dual resident settlements. 88 1 Section 87 also applies to a settlement for any year of assessment beginning on or after 6th April 1991 if— a the trustees are resident ... in the United…
Section 89 — Migrant settlements etc.
Migrant settlements etc. 89 1 Where a period of one or more years of assessment for which section 87 applies to a settlement (“ a non-resident period ”) succeeds a period of one or more years of…
Section 90 — Sections 87 and 89(2): transfers between settlements
Sections 87 and 89(2): transfers between settlements 90 1 This section applies if the trustees of a settlement (“the transferor settlement”) transfer all or part of the settled property to the…
Section 90A — Section 90: transfers made for consideration in money or money's worth
Section 90: transfers made for consideration in money or money's worth 90A 1 Section 90 does not apply to a transfer of settled property made for consideration in money or money's worth if the amount…
Section 91 — Increase in tax payable under section 87 or 89(2).
Increase in tax payable under section 87 or 89(2). 91 1 This section applies if— a chargeable gains are treated under section 87 ... or 89(2) as accruing to an individual directly, or indirectly, by…
Section 92 — Qualifying amounts and matching.
Qualifying amounts and matching. 92 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 93 — Matching: special cases.
Matching: special cases. 93 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .