{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4AA/paragraph-1",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4AA/paragraph-1.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "schedule/4AA/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "(1) Part 2, 3 or 4 of this Schedule applies on the first occasion on which a person disposes of an asset that the person held on 5 April 2019 where—\n(a) the disposal is either a direct or indirect disposal of UK land, and\n(b) the disposal is made by a non-resident or a UK resident in the overseas part of a tax year.\n(2) See also paragraph 16 (non-UK resident company holding UK land becoming resident in UK after 5 April 2019).\n(3) For the purposes of this Schedule—\n(a) a disposal is a “direct disposal of UK land” if it is a disposal of an interest in UK land, and\n(b) a disposal by a person is an “indirect disposal of UK land” if it is a disposal of an asset (other than an interest in UK land) deriving at least 75% of its value from UK land where the person has a substantial indirect interest in that land.\n(4) For the purposes of this paragraph, the disposal is made by a non-resident or a UK resident in the overseas part of a tax year if it is—\n(a) a disposal on which a gain accrues that falls to be dealt with by section 1A(3) because the asset disposed of is within paragraph (b) or (c) of that subsection,\n(b) a disposal on which a gain accrues that falls to be dealt with by section 1A(1) in accordance with section 1G(2) because the asset disposed of is within section 1A(3)(b) or (c),\n(c) a disposal on which a gain accrues that falls to be dealt with by section 2B(4), or\n(d) a disposal of an asset on which a gain does not accrue but which, had a gain accrued, would fall to be dealt with as mentioned in any of the preceding paragraphs of this sub-paragraph.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/4AA/paragraph/1",
    "retrieved_at": "2026-11-14T03:34:05.925206+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."
}