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Legislation

Income Tax Act 2007

Crossheading Exemptions: no tax avoidance purpose or genuine commercial transaction

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Section 736 Exemptions: introduction
Section 737 Exemption: all relevant transactions post-4 December 2005 transactions
Section 738 Meaning of “commercial transaction”
Section 739 Exemption: all relevant transactions pre-5 December 2005 transactions
Section 740 Exemption: relevant transactions include both pre-5 December 2005 and post-4 December 2005 transactions
Section 741 Application of section 742 (partial exemption)
Section 742 Partial exemption where later associated operations fail conditions
Section 742A Post-5 April 2012 transactions: exemption for genuine transactions

Income Tax Act 2007
Exemptions: no tax avoidance purpose or genuine commercial transaction

Section 742A | Post-5 April 2012 transactions: exemption for genuine transactions

From legislation.gov.uk

16 September 2026

Provision repealed

The source marks this provision as repealed and does not provide content for this version.

Repealed^F1

Notes

F1
S. 742A omitted (for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2025 (c. 8), Sch. 12 paras. 48, 70(1)

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