Any remittances of foreign securities income within any of the
categories in TCGA92/S119A(3) which occur before the end of the tax
year in which the CGT disposal occurs are taken into account in the
CGT computation as initially drawn up. That is the case even where
the remittances occur after the date of the CGT disposal, provided
they occur within the same tax year.
Where such a remittance takes place after the end of the tax
year in which the CGT disposal takes place, TCGA92/S119B(4)
provides that the person liable for CGT on the disposal may make a
claim for section 119A(2) to have effect as if the remitted income
had been remitted before the end of the tax year in which the
disposal occurred. In other words, the CGT position may be
recomputed taking into account remittances made after the year of
disposal.
TCGA92/S119B(5) & (6) provide that all necessary
adjustments (by way of repayment of tax, assessment or otherwise)
are to be made to give effect to a claim under subsection (4); and
that those adjustments may be made at any time, despite anything to
the contrary in any enactment relating to capital gains tax.
