Commentary

64.1 Tax advantages from transactions in securities

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

64.1 Tax advantages from transactions in securities

| Commentary

64 Anti-avoidance provisions

64.1 Tax advantages from transactions in securities

Many of the reliefs already dealt with are subject to anti-avoidance provisions. Two anti-avoidance provisions of more general application relate to tax advantages from transactions in securities and value shifting.

The provisions on securities transactions deal with the situation where a person or company may derive an income tax or corporation tax advantage from a transaction or transactions involving securities1. Where a transaction falls within one of the prescribed circumstances, HM Revenue and Customs may counteract any such tax advantage2. The potential application of these provisions is extremely wide but, in the

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