This article covers the compliance and administration rules which apply to the non-resident capital gains tax (NRCGT) regime for gains arising on a direct or indirect disposal of an interest in UK land where the person disposing of the property is not resident in the UK1. For an overview of the NRCGT rules see C2.1139.
Disposals of interests in UK land by non-residents—making an election
The current NRCGT regime applies to disposals on or after 6 April 2019. For both direct and indirect disposals of UK land, where the asset was owned before that date, special rules apply in calculating the gain, so that, broadly, only the gain arising from 6 April 2019 is chargeable (an earlier date applies in certain cases involving residential property). The default method of calculating the gain or loss is to use a form of rebasing. However, alternative methods of calculation are permitted (see C2.1145–C2.1149 and C2.1153A).
In order to use one of the alternative methods, an election must be made by the non-resident person. The election can be made in
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