F1Part 1Capital gains tax and corporation tax on chargeable gains
Chapter 3Attribution of gains of non-UK resident close companies
Application to groups
3FNon-resident groups of companies
1
This section applies, for the purposes of section 3, certain provisions of this Act (modified as mentioned below) in relation to non-resident companies which are members of a non-resident group of companies.
2
The applied provisions are—
a
section 41(8),
b
section 171 but as if subsections (1)(b) and (1A) were omitted,
c
section 173 but as if “to which this section applies” in subsections (1)(a) and (2)(a) were omitted, as if “such” in subsections (1)(c) and (2)(c) were omitted and as if subsection (3) were omitted,
d
section 174(4) but as if “at a time when both were members of the group” were substituted for “
in a transfer to which section 171(1) applied
”
,
e
section 175(1) but as if “to which this section applies” were omitted, and
f
section 179 but as if subsections (1)(b) and (1A) were omitted, as if for any reference to a group of companies there were substituted a reference to a non-resident group of companies and as if for any reference to a company there were substituted a reference to a non-resident company.
3
In this section—
“non-resident company” means a company which is not resident in the United Kingdom,
“non-resident group of companies”—
- a
in the case of a group none of whose members are resident in the United Kingdom, means that group, and
- b
in the case of a group some of whose members are not resident in the United Kingdom, means the members which are not resident in the United Kingdom, and
- a
“group” is to be read in accordance with section 170.
Pt. 1 substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 2