The following Corporation Tax guidance note by Tolley in association with Jackie Barker of Wells Associates provides comprehensive and up to date tax information covering:
This note explains the general rules that apply in respect of the disposal of company assets to connected parties and highlights the issues that differ from a transaction between unconnected third parties.
A company is connected with another company if:
A company is connected with another person if that person controls it alone or alongside persons connected with him.
Where two or more persons are acting together in order to obtain control of a company, they will be treated as connected with one another but only for the purposes of any transactions with that company. For example, directors of a company who have no other
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