TCGA92/S24(2) – Bargain made not at arm's length

It may be worth looking at the case in some detail if the claimant has subscribed for further shares shortly before the date on which the shares are claimed to have become of negligible value.

You should remember that if the transaction is not a bargain made at arm's length, then either

TCGA92/S17, see CG14540 onwards

or

or

TCGA92/S251(3), see CG53510 onwards

may apply to restrict the acquisition cost of the new shares.

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