# Taxation of Chargeable Gains Act 1992, Paragraph 6: Interpretation of Schedule


In this Schedule—
“qualifying foreign asset” means an asset that—
(a)is situated outside the United Kingdom, and
(b)does not derive at least 75% of its value from UK land (see Schedule 1A);
“qualifying foreign gain” means—
(a)a chargeable gain accruing on the disposal of a qualifying foreign asset,
(b)a chargeable gain treated as accruing as a result of section 3 (gains of non-UK resident close companies attributed to UK residents) where the gain accruing to the non-UK resident close company to which the deemed gain relates accrued on the disposal of a qualifying foreign asset, or
(c)a qualifying QAHC gain,
but a chargeable gain falling within paragraph (a) or (b) is not a qualifying foreign gain if it is a gain to which paragraph 1(2) of Schedule 1 applies (pre-2025-26 gains subject to the remittance basis);
“qualifying foreign loss” means a loss accruing on the disposal of an asset that is a qualifying foreign asset;
“qualifying QAHC gain” means the foreign proportion (see paragraph 46(4) to (6) of Schedule 2 to FA 2022) of a chargeable gain accruing to an individual who provided investment management services in connection with investment arrangements to which a QAHC is party on the disposal of shares in the QAHC that were acquired during the course of the provision of those services;
“QAHC” and “investment management services” have the meanings they have in that Schedule.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/D1/paragraph/6 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-D1/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.