Paragraph 18 F1

(1)

This paragraph applies in any case where—

(a)

a company ceases to be resident in the United Kingdom after 5 April 2019,

(b)

after that date the company disposes of an asset held by it on that date, and

(c)

the disposal is a direct or indirect disposal of UK land.

(2)

Nothing in Part 2, 3 or 4 of this Schedule applies to the disposal.

(3)

The asset that is disposed of is excepted from the application of section 185(2) and (3) (deemed disposal of assets on company ceasing to be resident in UK).

Annotations

Textual amendments

F1: Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17