CG15820 - Losses: restriction of loss relief: non-residents

TCGA92/S1E, TCGA92/S2B

A loss which accrues to a person in a year in which he or she is neither resident nor ordinarily resident* in the United Kingdom does not normally qualify for relief. But where a non-resident is carrying on a business in the UK through a branch or agency, losses are allowable if they accrue on the disposal of branch or agency assets. See CG13550+.

* For 2013/14 and subsequent years ordinary residence does not need to be considered.

Similarly, a loss accruing to a non-resident company carrying on a trade in the UK through a permanent establishment, on the disposal of assets of the permanent establishment, is an allowable loss, see CG42100+.

Where the disposal is in respect of an interest in UK land, since 6 April 2013, this may come within special rules;

For disposals giving rise to ATED related losses (6 April 2013 to 5 April 2019) see CG73655

For disposals within the non-resident capital gains rules in the period 6 April 2015 to 5 April 2019 see CG73700 onwards. For disposals after 5 April 2019 see CG73920 onwards.