Related Commentary  Related HMRC Manuals

13(1)  A disposition of property made to trustees by a close company whereby the property is to be held on trusts of the description specified in section 86(1) below is not a transfer of value if the persons for whose benefit the trusts permit the property to be applied include all or most of either–

(a)the persons employed by or holding office with the company, or

(b)the persons employed by or holding office with the company or any one or more subsidiaries of the company.

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