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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations make minor amendments to section 87A(2) of, and paragraph 1A of Schedule 4C to, the Taxation of Chargeable Gains Act 1992 (c. 12) (TCGA 1992). Both provisions were amended by Schedule 1 to the Finance Act 2019 (c. 1) (FA 2019) which extends the cases in which non-residents are charged to tax on gains accruing to them and contains consequential amendments of TCGA 1992.

Regulation 1 sets out when these Regulations come into force.

Regulation 2 introduces the amendments to TCGA 1992.

Regulations 3 and 4 contain the minor amendments, both of which substitute references to section 1(3) of TCGA 1992 consequential to the amendments to that Act made by Part 1 of Schedule 1 to FA 2019.

A Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.