Revenue Note for Guidance

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Revenue Note for Guidance

CHAPTER 2

Capital Gains Tax

Overview

This Chapter deals with the capital gains tax assessment of civil partners (section 1031M), the charge of capital gains tax on one civil partner where the other civil partner has not paid (section 1031N), and the rules regarding the transfer of assets where a civil partnership is dissolved (section 1031O).

1031L Interpretation (Chapter 2)

Summary

This is an interpretation section for the purposes of this Chapter.

Details

(1) This section contains terms used in this Chapter.

  • ‘inspector’, in relation to a notice, means any inspector who the civil partner giving a notice under this Chapter might reasonably is the inspector to whom the notice should be sent or any inspector who indicates his or her willingness to accept the notice;
  • ‘nominated civil partner’, in relation to a civil partnership, means the civil partner who has been jointly nominated to be the assessable civil partner, responsible for the making of the joint return and to whom the assessments will be issued;
  • ‘other civil partner’ means the civil partner who is not the nominated civil partner.

(2) A reference in the Capital Gains Tax Acts to an individual who has been nominated to be the nominated civil partner in accordance with section 1031M includes a reference to an individual who is deemed to be the nominated civil partner in accordance with that section.

(3) Any notice required to be served under any section in this Chapter can be served by post.

Relevant Date: Finance Act 2021