»Ê¹ÚÌåÓýapp

Sometimes the exclusion from the scope of TCGA92/S10A* afforded to gains accruing during a period of temporary non-residence on assets acquired in the period of temporary non-residence is not appropriate. Some assets acquired by an individual in this period may have a connection with an earlier residence period. »Ê¹ÚÌåÓýappse exceptional assets fall under three headings (see below). Where they apply, any gains or losses on the disposal of the assets during the period of temporary non-residence are treated as chargeable in the tax period of return, that is to say they are within the scope of section 10A*.

Certain disposals treated as giving rise to neither a gain nor a loss (TCGA92/S10AA(1)(b)-(d))*

Where the asset was acquired from a spouse or civil partner such that no gain and no loss is deemed to accrue by virtue of TCGA92/S58, any gain or loss accruing to the transferee on a disposal during a period of temporary non-residence is within the scope of section 10A*.

Where the asset was treated as having been disposed of and reacquired by a trustee on the occasion of a person becoming absolutely entitled to it as against the trustee, and no gain and no loss is deemed to accrue on that disposal by virtue of TCGA92/S73 (death of life tenant: exclusion of chargeable gain), any gain or loss accruing on a disposal of the asset during a period of temporary non-residence is within the scope of section 10A*.

Where the asset was a work of art etc acquired by way of a gift or a disposal of settled property such that no gain and no loss accrues to the person making the disposal because of TCGA92/S258(4), any gain or loss accruing to the recipient on a disposal during a period of temporary non-residence is within the scope of section 10A*.

Where the asset disposed of during a period of temporary non-residence is an interest created or arising under a settlement, any gain or loss on the disposal is within the scope of section 10A*.

In some circumstances the consideration given by a taxpayer for an asset is treated as reduced, with the result that the gain on another asset is also reduced or eliminated and is ‘rolled-over� into the asset in question. Where this happens under the following statutory provisions, a gain or loss accruing on a disposal of the asset carrying the rolled-over gain during a period of temporary non-residence is within the scope of section 10A*.

• TCGA92/S23(4)(b) or TCGA92/S23(5)(b) (compensation and insurance), see CG15700+
• TCGA92/S152(1)(b), TCGA92/S153(1)(b) (business assets roll-over relief), see CG60250+
• TCGA92/S162(3)(b) (transfer of business to a company), see CG65700+
• TCGA92/S247(2)(b) or TCGA92/S247(3)(b) (compulsory acquisition), see CG61920+.

*»Ê¹ÚÌåÓýappse provisions were re-written for disposals from 6 April 2019 see CG10150.