# Finance Act 2020, Paragraph 4


(1) A gain accruing on a disposal is not a chargeable gain if it accrues on—
(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,
(b) a disposal of the right to receive the whole or any part of a qualifying payment, or
(c) a disposal of an interest in any such right.
(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).
(3) This paragraph has effect—
(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,
(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
(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).

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Source: https://www.legislation.gov.uk/ukpga/2020/14/schedule/15/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2020/schedule-15/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.