Introduction

TCGA92/S135 only affects the shareholders and not the company whose shares are being acquired. But the company office has an important role to play in the procedure. This is because the company file may be the only source of information on whether the technical and anti-avoidance conditions of Section 135 are met.

Check accounts

Notifications of clearances and refusals are sent to the company office. When you receive the relevant accounts you should check that

the transaction took place in accordance with the clearance given

there is nothing to suggest the clearance application did not provide full and complete information.

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