BIM60340 - Land transactions: ICTA88/S776: Common situations

ICTA88/S776 is anti-avoidance legislation and is drawn in very wide terms. It is therefore, not possible to provide a summary of all the situations in which it is applicable. There are, however, two common situations in which it is regularly invoked:

• diversion schemes, normally involving deliberate avoidance (see BIM60345).
• 'slice of the action' schemes, normally involving unwitting avoidance (see BIM60350).