Commentary

D4.203A Chargeable gains—shares, ships or aircraft

Corporate tax
Corporate tax | Commentary

D4.203A Chargeable gains—shares, ships or aircraft

Corporate tax | Commentary

D4.203A Chargeable gains—shares, ships or aircraft

Changes were introduced by the Finance Act 20131 to provide that, for disposals on or after 1 September 20132, where a company has a non-sterling functional or designated currency, chargeable gains or allowable losses arising in respect of shares3 (including an interest in shares4), ships or aircraft5 shall be computed by reference to the company's functional or designated currency.

The legislation applies where, at any time during the period that the company owned the shares, ships or aircraft in question its functional or designated currency was a currency other than sterling. In such cases

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial