191Withdrawal of reliefU.K.
(1)This section applies if—
(a)some or all of an unremittable amount has been deducted from profits under section 189, and
(b)any of the following events occurs.
(2)The events are that—
(a)the amount or part of it ceases to be unremittable,
(b)the amount or part of it is used to finance expenditure or investment outside the United Kingdom,
(c)the amount or part of it is applied outside the United Kingdom in another way,
(d)the amount or part of it is exchanged for, or discharged by, an amount that is not unremittable,
(e)a deduction is allowed in respect of the amount or part of it under section 35 (bad and doubtful debts), and
(f)if the amount is an amount owed, a payment under a contract of insurance is received in relation to the amount or part of it.
(3)The amount or the part of it in question is brought into account as a receipt in calculating the profits of the trade for the period of account in which the event occurs, but only so far as—
(a)it has been deducted from profits under section 189, and
(b)it has not already been brought into account as a receipt in calculating the profits of the trade as a result of this section.
(4)If the event is the receipt of a payment under a contract of insurance, the amount brought into account as a receipt must not exceed the amount of the payment.