Related Commentary  Related CasesRelated HMRC Manuals

165(1)  If–

(a)an individual (“the transferor” ) makes a disposal otherwise than under a bargain at arm’s length of an asset within subsection (2) below, and

(b)a claim for relief under this section is made by the transferor and the person who acquires the asset (“the transferee” ) or, where the trustees of a settlement are the transferee, by the transferor alone,

then, subject to subsection (3) and sections 166, 167, 167A, 169, 169B and 169C, subsection (4) below shall apply in relation to the disposal.

165(2)  An asset is within this subsection if–

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