Capital gains tax (CGT) is charged on chargeable gains accruing on the disposal of assets.

A disposal occurs when an asset is sold, given away or exchanged or when a capital sum is received as a result of the ownership of an asset.

A ‘disposal’ includes a part disposal, a part disposal occurring where an interest or right in or over the asset is created by the disposal (e.g. the creation of a lease) and where any part of the asset remains undisposed of. For the computation, see ¶14750.

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