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

[809YF  Exception to section 809Y: compensation taken offshore or invested]

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

(a)     it ceases to be exempt property because a compensation payment in respect of it is released, and

(b)     conditions A and B are met.

(2)     Condition A is that the whole of the compensation payment is taken offshore or used by a relevant person to make a qualifying investment within the period of 45 days beginning with the day on which the payment is released.

(3)     Condition B is that, if Condition A is satisfied

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