# The Capital Gains Tax (Amendment) Regulations 2013, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend regulation 15 of the Capital Gains Tax Regulations 1967 (S.I. 1967/149). Regulation 15 sets out the interpretation of certain expressions in the Capital Gains Tax Regulations 1967 (“the Principal Regulations”). Regulation 15(b) provides that a person shall not be treated as a person whose liability to capital gains is affected by the market value of an asset unless their liability has accrued under section 41 or 42 of the Finance Act 1965 and they are at that date or during any relevant year of assessment resident, ordinarily resident or carrying on a trade in the United Kingdom.
Regulation 2 of these regulations substitutes a new regulation 15(b) in the Principal Regulations to remove the requirement that a person must be resident, ordinarily resident or carry on a trade in the United Kingdom in order to be joined as a third party to an appeal or make an application to be joined. The references to sections 41 and 42 of the Finance Act 1965 have been deleted and replaced by references to sections 13 and 87 of the Taxation of Chargeable Gains Act 1992 (c. 12).
Regulation 15(b) includes a reference to section 86 of the Taxation of Chargeable Gains Act 1992 extending the right to be joined as a third party to an appeal or make an application to be joined to settlors of non-resident trusts.
A Tax Information Impact Note has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

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Source: https://www.legislation.gov.uk/uksi/2013/557/note (the official version)
Page: https://openlegislation.uk/capital-gains-tax-amendment-regulations-2013/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.