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Persons, including companies, are generally not 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 neither

·ÌýÌýÌýÌýÌýÌýÌýÌý resident in the UK, nor

·ÌýÌýÌýÌýÌýÌýÌýÌý non-resident and in the case of a person other than a company carrying on a business in the UK through a branch or agency, see CG25500P, nor

·ÌýÌýÌýÌýÌýÌýÌýÌý non-resident and in the case of a company carrying on a trade in the UK through a permanent establishment, see CG42100P, nor

·ÌýÌýÌýÌýÌýÌýÌýÌý associated with exploration or exploitation activities in a designated area of the continental shelf.

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Gains accruing on the disposal of foreign assets by an individual who is not domiciled in the UK are taxed in the same way as gains on UK assets, unless the remittance basis applies, see CG25300P.

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Certain persons are statutorily exempt or partially exempt under broadly the same conditions and to a similar extent as for Income Tax. For example:

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·ÌýÌýÌýÌýÌýÌýÌýÌý charities, provided the proceeds of any disposal are applicable and applied for charitable purposes, seeÌýCG67500+.

·ÌýÌýÌýÌýÌýÌýÌýÌý superannuation funds, seeÌýCG67650+.

·ÌýÌýÌýÌýÌýÌýÌýÌý local authorities, seeÌýCG41200.

·ÌýÌýÌýÌýÌýÌýÌýÌý trade unions, seeÌýCG67600+.

·ÌýÌýÌýÌýÌýÌýÌýÌý friendly societies, seeÌýCG41600+.

·ÌýÌýÌýÌýÌýÌýÌýÌý scientific research associations, seeÌýCG10775.

·ÌýÌýÌýÌýÌýÌýÌýÌý persons entitled to diplomatic privilege. Under , and , Agents-General of Commonwealth countries and their staffs, members of NATO forces and certain consular officials are granted exemption from Capital Gains Tax Ìýon gains from certain classes of property corresponding to the existing reliefs which they are allowed for Income Tax. The position of other diplomats is covered by the , which gave effect to the Vienna Convention, under Article 34 of which a ‘diplomatic agentâ€� is exempt from all taxes of the country to which he is accredited except, among other things, dues and taxes on private income having its source in the receiving state and capital taxes on investment made in commercial undertakings in the receiving states.

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provides other miscellaneous exemptions.

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This list may not be exhaustive. If you encounter a scenario not covered in this list, it is important to consider whether the statute and guidance in this manual provides an answer