6(1)Section 25 of the M1Taxation of Chargeable Gains Act 1992 (non-residents: deemed disposals) is amended as follows.U.K.
(2)After subsection (3) insert—
“(3A)Subsection (3) above shall not apply if—
(a)the person ceasing to carry on the trade is a company, and
(b)the trade is transferred to another company in circumstances in which section 139 or 171 applies in relation to the assets transferred.”.
(3)Subsection (4) shall cease to have effect.
(4)The amendment in sub-paragraph (2) above has effect in relation to cases where section 139 or, as the case may be, section 171 has effect as amended by this Schedule.
(5)The amendment in sub-paragraph (3) above has effect in relation to cases where section 139 has effect as amended by this Schedule.
Marginal Citations