127 Charge to CGT on temporary non-residents
Finance Act 1998 (1998 c 36) | Legislation

Non-residents etc

127  Charge to CGT on temporary non-residents

(1)     After section 10 of the Taxation of Chargeable Gains Act 1992 there shall be inserted the following section—

“10A Temporary non-residents

(1)     This section applies in the case of any individual (“the taxpayer”) if—

(a)     he satisfies the residence requirements for any year of assessment (“the year of return”);

(b)     he did not satisfy those requirements for one or more years of assessment immediately preceding the year of return but there are years of assessment before that year for which he did satisfy those requirements;

(c)     there are fewer than five years of assessment falling between the year of departure and the year of return; and

(d)     four out of the seven years of assessment immediately preceding the year of departure are also years of assessment for each of which he satisfied those requirements.

(2)     Subject to the following provisions of this section and section 86A, the taxpayer shall be chargeable to capital gains tax as if—

(a)     all the chargeable gains and losses which (apart from this subsection) would have accrued to him in an intervening year,

(b)     all the chargeable gains which under section 13 or

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