# Taxation of Chargeable Gains Act 1992, Paragraph 4

Extent: E+W+S+N.I.

(1) If the transfer of value is made in a year of assessment during which the trustees of the transferor settlement are at no time resident ... in the United Kingdom the chargeable amount is computed under this paragraph.
(2) Where this paragraph applies the chargeable amount is the amount on which the trustees would have been chargeable to tax under section 1(3) by virtue of Schedule 4B if they had been resident ... in the United Kingdom in the year (and had made the disposals which Schedule 4B treats them as having made).
(3) Where (apart from this sub-paragraph) the chargeable amount mentioned in sub-paragraph (2) would include a chargeable gain or allowable loss to which section 1A(3)(b) or (c) applies (disposals by non-UK residents within the charge to capital gains tax), so much of the gain or loss as would be so included is to be disregarded for the purposes of determining the chargeable amount.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/4C/paragraph/4 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4C/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.