Related Commentary  Related CasesRelated HMRC Manuals

53(1)  This section applies where the purchaser is a company and–

(a)the vendor is connected with the purchaser, or

(b)some or all of the consideration for the transaction consists of the issue or transfer of shares in a company with which the vendor is connected.

53(1A)  The chargeable consideration for the transaction shall be taken to be not less than–

(a)the market value of the subject-matter of the transaction as at the effective date of the transaction, and

(b)if the acquisition is the grant of a lease at a rent, that rent.

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