Commentary

C1.307 Meaning of disposal

Capital gains tax
Capital gains tax | Commentary

C1.307 Meaning of disposal

Capital gains tax | Commentary

Disposals

C1.307 Meaning of disposal

Capital gains tax is charged on chargeable gains accruing to a person on the disposal of assets1. The legislation does not define 'disposal', so the term must be given its natural meaning. However, the legislation does extend the meaning of the term to include certain specific situations, as follows:

  1.  

    (a)     part disposals2

  2.  

    (b)     occasions on which any capital sum is derived from assets, and the person who pays the capital sum does not acquire an asset, such as the receipt of compensation for damage to, or total destruction of, assets3

  3.  

    (c)     the occasion of the entire loss, destruction,

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