Taxation of Chargeable Gains Act 1992 Schedule 4ZZB paragraph 11

Overview

Paragraph 11 of Schedule 4ZZB provides an overview of the schedule, setting out its purpose and scope in relation to the calculation of chargeable gains and allowable losses on disposals of interests in non-resident capital gains tax (NRCGT) assets.

• The schedule applies to disposals of interests in assets that are subject to non-resident capital gains tax, providing a framework for how gains and losses on such disposals are computed.
• It establishes the overall structure of the schedule by signposting the key computational rules that follow in subsequent paragraphs.
• The schedule was introduced by the Finance Act 2019 as part of the extension of capital gains tax to non-UK residents disposing of UK property and certain other UK land-related assets.
• The overview paragraph acts as a guide to the rest of the schedule, helping users navigate the detailed computational provisions that apply to NRCGT asset disposals.