Commentary

B5.708 Computation of offshore income gains

Business tax
Business tax | Commentary

B5.708 Computation of offshore income gains

Business tax | Commentary

B5.708 Computation of offshore income gains

There is an offshore income gain where a person disposes of an asset if a basic gain arises on the disposal. The offshore income gain is equal to the basic gain1. For participants chargeable to income tax the basic gain is the gain computed for the purposes of TCGA 1992, without taking account of any amounts chargeable to income tax under these provisions2. For participants chargeable to corporation tax the basic gain is the gain computed for the purposes of TCGA 1992 without regard to any amount chargeable to corporation tax under these provisions

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial