# Finance Act 2015, Paragraph 23


(1) Section 165 (relief for gifts of business assets) is amended as follows.
(2) In subsection (1), after “167,” insert “ 167A, ”.
(3) After subsection (7) insert—
“(7A) Subsections (7B) and (7C) apply in any case where—
(a) the disposal is a non-resident CGT disposal, and
(b) the transferee is resident in the United Kingdom.
(7B) Subsections (4) and (6) have effect in relation to the disposal as if the references to “chargeable gain” were references to “chargeable NRCGT gain”.
(7C) Subsection (7) has effect in relation to the disposal as if the reference to “the excess referred to in paragraph (b) above” were a reference to “the chargeable NRCGT gain which, ignoring this section and section 17(1), would accrue to the transferor on the disposal”.”

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Source: https://www.legislation.gov.uk/ukpga/2015/11/schedule/7/paragraph/23 (the official version)
Page: https://openlegislation.uk/finance-act-2015/schedule-7/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.