[809YA Exception to section 809Y: proceeds taken offshore or invested]
Income Tax Act 2007 (2007 c 3) | Legislation

[809YA  Exception to section 809Y: proceeds taken offshore or invested]

[(1)     Section 809Y(1) does not apply to property if—

(a)     it ceases to be exempt property because the whole of it is sold whilst it is in the United Kingdom, and

(b)     conditions A to F are met.

(2)     Condition A is that the sale is to a person other than a relevant person.

(3)     Condition B is that the sale is by way of a bargain made at arm's length.

(4)     Condition C is that, once the sale is completed, no relevant person—

(a)     has any interest in the property,

(b)     is able or entitled to

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