Taxation of Chargeable Gains Act 1992 section 1C

Non-UK residents: disposing of an "interest in UK land"

Section 1C defines what counts as an "interest in UK land" for the purposes of charging capital gains tax on non-UK residents who dispose of UK property interests.

• An "interest in UK land" broadly covers any estate, interest, right, power, or beneficial obligation connected with land in the United Kingdom, including buildings, structures, and land under water
• Certain interests are excluded from the definition, such as security interests, licences to occupy land, tenancies at will, advowsons, Crown franchises, and manors, though rentcharges and certain Scottish feudal payments remain within scope
• The grant of an option that binds a person to dispose of an interest in UK land is itself treated as a disposal of an interest in UK land, bringing it within the charge to tax
• The Treasury has power to specify by regulations additional types of interest or right in UK land that are to be treated as excluded interests