Related Commentary  Related HMRC Manuals

185(1)  This section applies to a company if, at any time (“the relevant time” ), the company ceases to be resident in the United Kingdom.

185(2)  The company shall be deemed for all purposes of this Act–

(a)to have disposed of all its assets, other than assets excepted from this subsection by subsection (4) below, immediately before the relevant time; and

(b)immediately to have reacquired them,

at their market value at that time.

185(3)  Section 152 shall not apply where the company–

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