INTRODUCTORY

General conditions for operation of reliefs etc

Related Commentary  

5(1)  This paragraph defines conditions A to G for the purposes of paragraphs 6 to 18.

Paragraphs 20 and 22 set out circumstances in which the reliefs provided by paragraphs 6 to 18 are not available even if conditions A to G are met.

5(2)  Condition A is that one person (“P”) and another (“Q”) enter into arrangements under which–

(a)P transfers to Q a qualifying interest in land (“the first transaction”), and

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