Commentary

C1.604B Location of assets—interests of co-owners

Capital gains tax
Capital gains tax | Commentary

C1.604B Location of assets—interests of co-owners

Capital gains tax | Commentary

C1.604B Location of assets—interests of co-owners

Statutory provisions1 have effect to determine for TCGA purposes, the situation of any 'interest' in an asset or whether the interest is situated in the UK at any time after 15 March 2005, regardless of when the asset in question was acquired2.

The situation of an interest in an asset is the same as the situation of the asset, determined on the assumption that the asset is owned wholly by the person who holds the interest3.

Interpretation is provided for references in these provisions to 'interest', in relation to an asset.

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