# Capital Gains Tax Act 1979 (repealed 6.3.1992), Section 147B: Section 147A relief: gifts to non-residents.

Extent: E+W+S+N.I.

(1) Section 147A(3) above shall not apply where the transferee is neither resident nor ordinarily resident in the United Kingdom.
(2) Section 147A(3) above shall not apply where the transferee is an individual who—
(a) though resident or ordinarily resident in the United Kingdom, is regarded for the purposes of any double taxation arrangements having effect by virtue of section 788 of the Taxes Act 1988 as resident in a territory outside the United Kingdom, and
(b) by virtue of the arrangements would not be liable in the United Kingdom to tax on a gain arising on a disposal of the asset occurring immediately after its acquisition.

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Source: https://www.legislation.gov.uk/ukpga/1979/14/section/147B (the official version)
Page: https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/section-147B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.