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.”