Related Commentary  Related HMRC Manuals

9C(1)  This section applies if–

(a)a company disposes of an asset which is a ship, an aircraft, shares or an interest in shares, and

(b)at any time beginning with the company's acquisition of the asset (or, if earlier, the time allowable expenditure was first incurred in respect of the asset) and ending with the disposal, the company's relevant currency is not sterling.

9C(2)  A company's relevant currency at any time is its functional currency at that time, subject to subsection (3).

9C(3)  If, at any time–

(a)a company is a UK resident investment company, and

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