Related Commentary  Related HMRC Manuals

257(1)  Subsection (2) below shall apply where a disposal of an asset is made otherwise than under a bargain at arm’s length–

(a)to a charity or a registered club, or

(b)to any bodies mentioned in Schedule 3 to the Inheritance Tax Act 1984 (gifts for national purposes, etc)

and the disposal is not one in relation to which section 151A(1) has effect.

257(2)  Sections 17(1) and 258(3) shall not apply; but if the disposal is by way of gift (including a gift in settlement) or for a consideration not exceeding the sums allowable as a deduction under section 38, then–

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