Income Tax and Corporation Tax – Disposal of A Business To A Group Company – ascertaining market value – intangibles relief – whether payment was a distribution – substitution of market value under Schedule 29 FA 2002 – held – valuation of assets actually transferred was 1 pound – no chargeable gain realised on disposal – no distribution – market value required to be substituted for purposes of intangibles relief – appeal of first appellant allowed – appeal of second appellant dismissed
Citations:
[2022] UKFTT 39 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax, Corporation Tax
Updated: 13 April 2022; Ref: scu.675644