Part 2U.K.Double taxation relief

CHAPTER 3U.K.Miscellaneous provisions

Application of Part for capital gains tax purposesU.K.

105Meaning of “chargeable gain”U.K.

In this Part so far as it relates to capital gains tax “chargeable gain” has the same meaning as in TCGA 1992 (see, in particular, section 15(2) of that Act).

106Chapters 1 and 2 apply to capital gains tax separately from other taxesU.K.

(1)Subsection (2) applies if foreign gains tax may be brought into account under Chapters 1 and 2 so far as they apply for capital gains tax purposes.

(2)The foreign gains tax is not to be taken into account under those Chapters so far as they apply otherwise than for capital gains tax purposes.

(3)Subsection (2) applies whether or not relief in respect of the foreign gains tax is given under those Chapters so far as they apply for capital gains tax purposes.

(4)Foreign non-gains tax is not be taken into account under those Chapters so far as they apply for capital gains tax purposes.

(5)In this section—

• “foreign gains tax” means any tax which—

  (a)

  is imposed by the law of a territory outside the United Kingdom, and

  (b)

  is of a similar character to capital gains tax, and

• “foreign non-gains tax” means tax which—

  (a)

  is imposed by the law of a territory outside the United Kingdom, and

  (b)

  is not foreign gains tax.