Commentary

C2.1133 Computation of non-resident CGT (NRCGT) gains and losses—main rules

Capital gains tax
Capital gains tax | Commentary

C2.1133 Computation of non-resident CGT (NRCGT) gains and losses—main rules

Capital gains tax | Commentary

C2.1133 Computation of non-resident CGT (NRCGT) gains and losses—main rules

The rules in C2.1130–C2.1138 apply to disposals made prior to 6 April 2019. For disposals made on or after 6 April 2019, see C2.1139–C2.1173. Transitional rules apply to unused losses existing at 6 April 2019 that have accrued on disposals made prior to that date. See C2.1142 for further details.

The normal chargeable gains calculation rules apply for calculating NRCGT gains and losses though, as only the gain arising after 5 April 2015 is chargeable, there are rules to calculate the chargeable amount. There are three methods for doing this and the default method (rebasing) will apply unless the disponor (P) elects otherwise1. They apply equally to the disposal of contracts for off-plan purchases2 (see C2.1132).

For the computation of gains and losses involving relevant high value disposals see C2.1134.

The FA 2015 NRCGT regime applies only to disposals of residential property and only where the disposal is made between 6 April 2015 and 5 April 2019. From 6 April 2019, an extended NRCGT regime applies to all types of UK land, including commercial property (referred to as the FA 2019 NRCGT regime). See C2.1139.

Default method

It applies where P held the interest disposed of on the 5 April 20153. A calculation is made of the notional gain or loss which would arise on the disposal of the interest had P acquired it at market value on 5 April 2015 (the 'notional post-April 2015 gain or loss'4). This notional gain or loss is

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