D1.1050 Substantial shareholding exemption—exclusions from exemption
There are a number of occasions where the SSE will not apply. The first is where there is an avoidance motive in certain defined situations1. The second is in the case of certain no gain/no loss disposals2. These are explored further below.
Anti-avoidance for SSE
SSE does not apply in certain defined situations (see below) where the disposal is the result of arrangements which had as their sole or main benefit the realisation of an exempt gain under the legislation3. The term arrangements includes any scheme, agreement or understanding, whether or not legally enforceable4.
This anti-avoidance provision applies to such arrangements only if both of the following specific circumstances exist:
- Ìý
•ÌýÌýÌýÌý before the accrual of the gain5:
- Ìý
–ÌýÌýÌýÌý either the investing company acquired control (as defined in CTA 2010, ss 450, 4516, see D3.103) of the target company, or the same person or persons acquire control of both companies, or
- Ìý
–ÌýÌýÌýÌý there has
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Web page updated on 17 Mar 2025 16:54