The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
The transactions in securities (TiS) legislation gives HMRC power to issue a notice of counteraction in respect of a tax advantage arising from specified scenarios. Broadly the legislation will be applied where a transaction is carried out otherwise than for bona fide commercial reasons of which the main object is to obtain a tax advantage. For guidance on the TiS legislation, which includes a summary of situations where the rules should not apply, see the Transactions in securities and the Phoenix TAAR on a company sale or winding up guidance note.
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