Related Commentary  Related HMRC Manuals

554C(1)  A person (“P”) takes a step within this section if P–

(a)pays a sum of money to a relevant person,

(aa)acquires a right to a payment of a sum of money, or to a transfer of assets, where there is a connection (direct or indirect) between the acquisition of the right and–

(i)a payment made, by way of a loan or otherwise, to a relevant person, or

(ii)a transfer of assets to a relevant person,

(ab)releases or writes off the whole or a part of–

(i)a loan made to a relevant person, or

(ii)an acquired right of the kind mentioned in paragraph (aa),

(b)transfers an asset to a relevant person,

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