Paragraph 12 Capital gains tax: main exemption
United Kingdom
(1)
No gain is treated as accruing under paragraph 1(2) of Schedule 1 to TCGA 1992 on the remittance of an amount of designated qualifying overseas capital F1that is designated on the basis that it is qualifying overseas capital as a result of a remittance provision (other than paragraph 6(1)(b)).
(2)
This paragraph has effect for the tax year 2025-26 and subsequent tax years.
Annotations
Textual amendments
- F1
Words in Sch. 10 para. 12(1) inserted (with effect in accordance with Sch. 3 para. 18(1) of the amending Act) by Finance Act 2026 (c. 11), Sch. 3 paras. 13(2), 18(1)