For updates affecting this Division please see Part C0 Updates
Foreign element—generally
C1.601 Liability to tax on foreign gains and losses—overview
For a gain or loss to be within the scope of tax on chargeable gains, there must be a chargeable disposal of a chargeable asset by a chargeable person. See C1.102–C1.104.
Individuals, trustees and personal representatives are subject to capital gains tax on chargeable gains. Companies are subject to corporation tax on chargeable gains. See C1.102.
This article discusses whether a person is taxable on gains or losses arising on assets sited outside of the UK. For details of the situs of assets, see C1.604. For the computation of chargeable gains and allowable losses, see C1.105.
Persons liable to tax on chargeable gains
Whether gains or losses are within the scope of capital gains tax or corporation tax depends on the residence status of the person and, in the case of individuals, their domicile status.
| Person | Liability to UK tax on chargeable gains and losses | Further reading |
| Individuals |
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