Anti-avoidance

Claims and elections

Conditions

Business must be transferred as a ‘going concern

Consideration for the transfer in the form of shares

Person who is not a company transfers a business to a company

Whole assets transferred to the company

Consequences

Reduction in allowable cost of shares

Reduction in net gains on old assets

Generally

Incorporation for cash

Interaction with other reliefs

Transfer of business as going concern in exchange for shares