Related Commentary  Related HMRC Manuals

79A(1)  This section applies to a chargeable gain accruing to the trustees of a settlement where–

(a)in computing the gain, the allowable expenditure is reduced in consequence, directly or indirectly, of a claim to gifts relief in relation to an earlier disposal to the trustees;

(b)the transferor on that earlier disposal, or any person connected with the transferor, has at any time–

(i)acquired an interest in the settled property, or

(ii)entered into an arrangement to acquire such an interest; and

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