A transfer of an asset to a group company which is a venture capital trust at the time of transfer cannot be a no gain/no loss transfer1 as a venture capital trust is exempt from tax on chargeable gains2.
Where an asset is transferred to a group company (as a no gain/no loss transfer)3 and the transferee subsequently becomes a venture capital trust, the transferee company is deemed to have sold and reacquired the asset at market value immediately after the initial transfer (although the gain or loss is
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Web page updated on 17 Mar 2025 17:16