# Taxation of Chargeable Gains Act 1992, Section 87C: Sections 87 and 87A: disregard of certain capital payments


(1) For the purposes of sections 87 and 87A as they apply in relation to a settlement, no account is to be taken of a capital payment (or a part of a capital payment) within subsection (2).
(2) A capital payment is within this subsection if (and to the extent that) it is received (or treated as received) in a tax year from the trustees of the settlement by a company that—
(a) is not resident in the United Kingdom in that year, and
(b) would be a close company if it were resident in the United Kingdom,
(and is not treated under any of subsections (3) to (5) of section 96 as received by another person).

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Source: https://www.legislation.gov.uk/ukpga/1992/12/section/87C (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-87C
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.