{
  "url": "https://openlegislation.uk/finance-act-2020/schedule-15/paragraph-4",
  "json_url": "https://openlegislation.uk/finance-act-2020/schedule-15/paragraph-4.json",
  "legislation": "ukpga/2020/14",
  "legislation_title": "Finance Act 2020",
  "legislation_url": "https://openlegislation.uk/finance-act-2020",
  "path": "schedule/15/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) A gain accruing on a disposal is not a chargeable gain if it accrues on—\n(a) a disposal arising as a result of the forfeiture or surrender of rights, or as a result of refraining from exercising rights, in return for a qualifying payment,\n(b) a disposal of the right to receive the whole or any part of a qualifying payment, or\n(c) a disposal of an interest in any such right.\n(2) In sub-paragraph (1)(c) “interest”, in relation to a right, means an interest as a co-owner of the right (whether it is owned jointly or in common and whether or not the interests of the co-owners are equal).\n(3) This paragraph has effect—\n(a) in a case where the qualifying payment concerned is within paragraph 2(2) or (3), in relation to disposals made on or after 3 April 2019,\n(b) in a case where the qualifying payment concerned is within paragraph 2(4), in relation to disposals made on or after 29 May 2020, and\n(c) in a case where the qualifying payment concerned is within paragraph 2(5), in relation to disposals made on or after such date as is specified in the regulations concerned (which may be a date before the regulations are made).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 15 para. 4 modified (6.4.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023 (S.I. 2023/113), regs. 1(2), 44(4) (with reg. 1(3))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2020/14/schedule/15/paragraph/4",
    "retrieved_at": "2026-10-29T09:01:44.314864+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}