Overview Taxation of Chargeable Gains Act 1992 Section 11
3248.This new section replaces the former section 11 of TCGA.
3249.New subsection (1) replaces section 11(1) of TCGA and corresponds to section 833 of this Act relating to the residence status of visiting forces and others for income tax purposes.
3250.Section 833 is based on section 323(2) of ICTA which refers to “a period during which a member of a visiting force to whom section 303(1) of ITEPA 2003…applies”. Section 11(1) of TCGA makes the same reference. Section 833 avoids the reference to section 303(1) of ITEPA and includes a full description of the persons to whom it applies.
3251.The new section 11(1) of TCGA, accordingly, links directly to section 833 of this Act and applies to the persons to whom section 833 applies.
3252.New subsections (2) and (3) replace section 11(3) and (4) of TCGA and correspond to the income tax exemption in section 841 of this Act. As explained in the commentary on section 841, the income tax exemption for Agents-General in section 320(1) of ICTA is repealed as it duplicates an exemption given elsewhere. For the same reason, the capital gains tax exemption in section 11(2) of TCGA is omitted.