TCGA92/S140 (1), (2) and (3)

Capital gains charges are deferred by TCGA92/S140 if all the following conditions in Section 140(1)(a)-(d) and (2) are satisfied:

a UK resident company carrying on a trade outside the UK through a permanent establishment transfers the permanent establishment trade, or part of it, together with all the related assets (or all the assets other than cash), to a non-UK resident company

the consideration for the trade or part trade transferred consists wholly or partly of shares, or shares and loan stock, issued by the transferee company to the transferor company

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