Related Commentary  Related HMRC Manuals

847(1)  This section applies for the purposes of this Chapter.

847(2)  The following persons are associated with one another–

(a)the transferor in an affected transaction and the transferor in another affected transaction, if the two persons are acting in concert or if the two transactions are in any way reciprocal, and

(b)any person who is an associate of either of those associated transferors.

847(3)  Two or more bodies corporate are associated with one another if they participate in, or are incorporated for the purposes of, a scheme–

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