SCHEDULES
SCHEDULE 1Chargeable gains accruing to non-residents etc
PART 2Consequential amendments
62TCGA 1992
In section 171A (election to reallocate gain or loss to another member of the group), for subsection (2) substitute—
2
In determining for the purposes of subsection (1)(c) whether subsection (1) of section 171 would have applied, it is to be assumed that subsection (1A)(b) of that section read—
b
that—
i
at the time of the disposal, company B is resident in the United Kingdom, or carrying on a trade in the United Kingdom through a permanent establishment there, or
ii
the asset is a chargeable asset in relation to company B immediately after the time of the disposal.”