CTM76630 - Exchange differences: matching: disposal of matched assets: deemed gains or losses

The amounts left out of account initially following a matching election are generally carried forward to be taken into account on disposal of the matched asset. However, where the asset is the net investment in a branch that is subject to a local currency election, the amounts involved are not recovered or relieved. For most assets and liabilities in the branch, the local currency election makes recovery inappropriate, - see CTM76570.