CG12980 - Capital sums derived from assets: s22 TCGA92: meaning of 바카라 사이트榗apital sum바카라 사이트�

S22(1) TCGA92 provides that there is:

바카라 사이트�바카라 사이트 disposal of assets by their owner where any capital sum is derived from assets notwithstanding that no asset is acquired by the person paying the capital sum바카라 사이트�바카라 사이트� (emphasis added).

The term 바카라 사이트榗apital sum바카라 사이트� is defined in s22(3) TCGA92 as:

바카라 사이트�바카라 사이트ny money or money바카라 사이트檚 worth which is not excluded from the consideration taken into account in the computation of the gain.바카라 사이트�

A receipt of money or money바카라 사이트檚 worth would fall to be excluded from the consideration to be taken into account for chargeable gains purposes if it was charged to tax as income or taken into account as a receipt in calculating income profits, gains or losses of the recipient (see s37(1) TCGA92; CG10260). Therefore any part of the receipt which is brought into account for income tax purposes cannot be treated as a capital sum for the purposes of s22 TCGA92.

Guidance on the treatment of compensation as an income receipt is given at BIM40100+.

Money바카라 사이트檚 worth

Money바카라 사이트檚 worth can include:

  • something which is convertible into money, or
  • something which is capable of being valued in monetary terms (Chaney v Watkis (58 TC 707))