CG53175 - Substantial shareholdings exemption: the exemptions available - anti-avoidance measure to prevent inappropriate exemption - submission to Capital Gains Technical Group before arguing case

TCGA92/SCH7AC/PARA5

Paragraph 5 Schedule 7AC TCGA 1992 is an anti-avoidance measure to prevent exploitation of the substantial shareholdings exemptions.

It will be unusual for the anti-avoidance rule to apply. If you think it could apply so a gain on a disposal may not be exempt you should establish all the relevant facts and consider them in the light of the guidance in CG53180. If when you have done this you think you have a good case for invoking the anti-avoidance rules, you must send a summary of the facts and your arguments with all your papers to Capital Gains Technical Group. You have to obtain the approval of CGTG before you put any arguments to the effect that the anti- avoidance rule applies to the company or its advisers.