# Finance Act 2012, Paragraph 7


After section 18P(2) insert—
“(3) Subsection (2) does not apply in relation to—
(a) a chargeable gain accruing on the disposal of an asset used, and used only, for the purposes of a trade so far as carried on by the company in the relevant foreign territory through the company's permanent establishment there, or
(b) a chargeable gain accruing on the disposal of currency or of a debt within section 252(1) of TCGA 1992 where the currency or debt is or represents money in use for the purposes of a trade so far as carried on by the company in the relevant foreign territory through the company's permanent establishment there.”

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Source: https://www.legislation.gov.uk/ukpga/2012/14/schedule/20/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2012/schedule-20/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.