CA41410 - ABA: Anti-avoidance: transfers treated as being at market value

CAA01/S567 - S568

Treat a transfer of the relevant interest as being at market value if it is a control transfer, a transfer other than by way of sale or a transaction to obtain a tax advantage.

A control transfer is a transfer where:

• the buyer controls the seller,
• the seller controls the buyer,
• there is common control of the buyer and seller, or
• the buyer and seller are connected.

A scheme to obtain a tax advantage is one where it appears that the sole or main benefit that might be expected to arise from the transfer of the relevant interest is:

1. the obtaining of a capital allowance or,
2. the obtaining of a greater capital allowance or,
3. the avoidance or reduction of a balancing charge.