774. Residence and domicile for CGT purposes.

In enactments relating to relevant tax, including CGT1, a reference to being resident (or not resident) in the United Kingdom is, in the case of individuals, a reference to being resident (or not resident) in the United Kingdom in accordance with the statutory residence test2.

The determination of the residence of a company for the purposes of computing chargeable gains is the same as for corporation tax3.

In general, a trust is resident in the United Kingdom for CGT purposes if either4:

  1.  

    (1)     all of the trustees are resident in the United Kingdom5; or

  2.  

    (2)     at least one of the trustees