# Corporation Tax Act 2009, Section 793A: Effect of election under section 792


(1) This section applies if an election is made under section 792.
(2) If subsection (2) of section 793 applies to B the gain, or the part specified in the election, is treated as if it had accrued to B at the relevant time as a non-trading credit for the purposes of Chapter 6 (how credits and debits are given effect).
(3) If subsection (3) of section 793 applies to B the gain, or the part specified in the election, is treated—
(a) as if it had accrued to B at the relevant time as a non-trading credit for the purposes of Chapter 6, and
(b) as if it had accrued in respect of an asset held for the purposes of a permanent establishment of B in the United Kingdom.
(4) If subsection (3A) of section 793 applies to B the gain, or the part specified in the election, is treated for the purposes of Chapter 6 as if it had accrued to B at the relevant time as a credit in respect of an asset held for the purposes of B's trade of dealing in or developing UK land.
(5) If subsection (3B) of section 793 applies to B the gain, or the part specified in the election, is treated for the purposes of Chapter 6 as if it had accrued to B at the relevant time as a credit in respect of an asset held for the purposes of B's UK property business.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/793A (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-793A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.