CG10700 - Persons chargeable: general

TCGA92/S2 (1), TCGA92/S10 & TCGA92/276

Persons, including companies, are chargeable to tax in respect of chargeable gains if, in the year of assessment or accounting period in which the disposal is made, they are

• resident or, in the case of a person other than a company, ordinarily resident in the UK, or
• non-resident and carrying on a business in the UK through a branch or agency (in respect of assets connected with the branch or agency only), see CG13550+, or
• associated with exploration or exploitation activities in a designated area of the continental shelf (in respect of assets connected with those activities only).

`UK' means Great Britain and Northern Ireland. It includes the territorial sea of the UK but it does not include the Irish Republic, the Isle of Man or the Channel Islands.