Related Commentary  Related HMRC Manuals

281(1)  Subsection (2) below applies where–

(a)the whole or any part of any assets to which this section applies is disposed of by way of gift or is deemed to be disposed of under section 71(1) or 72(1), and

(b)the disposal is one–

(i)to which neither section 165(4) nor section 260(3) applies (or would apply if a claim were duly made), or

(ii)to which either of those sections does apply but on which the held-over gain (within the meaning of the section applying) is less than the chargeable gain which would have accrued on that disposal apart from that section.

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