Paragraph 6 Capital gains tax: amendments connected with end of remittance basis

United Kingdom

(1)

In section 8C of TMA 1970 (returns so far as relating to capital gains tax)—

(a)

in subsection (1), in paragraph (a), the words from “does not” to the end become sub-paragraph (i) of that paragraph,

(b)

after that sub-paragraph insert

“or
(ii)
where the person is not entitled to the annual exempt amount for the tax year, is nil,”,

(c)

omit subsection (1)(c) (but not the “and” following it),

(d)

in subsection (2), for “to (c)” substitute “and (b)”, and

(e)

omit subsection (4).

(2)

In section 1K of TCGA 1992 (annual exempt amount), omit subsection (6)(a).

(3)

The amendments made by this paragraph have effect for the tax year 2025-26 and subsequent tax years.