Related Commentary  Related HMRC Manuals

228(1)  This section applies–

(a)to shares or securities of a company which immediately before the chargeable transfer gave control of the company–

(i)in the case of a transfer on death, to the deceased,

(ii)in the case of a transfer under Chapter III of Part III of this Act, to the trustees, and

(iii)in any other case, to the transferor;

(b)to shares or securities of a company which do not fall under paragraph (a) above and are unquoted, if the chargeable transfer is made on death and the condition stated in subsection (2) below is satisfied;

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