Section 809BZS | Assets

(1)This section applies for the purposes of this Chapter.

(2)A reference to a person receiving an asset includes—

(a)a reference to the person obtaining (directly or indirectly) the value of an asset or otherwise deriving (directly or indirectly) a benefit from it, and

(b)a reference to the discharge (in whole or part) of a liability of the person.

(3)A reference to a disposal of an asset includes a reference to anything constituting a disposal of it for the purposes of TCGA 1992.

(4)A reference to payments in respect of an asset includes—

(a)a reference to payments in respect of another asset substituted for it under the arrangement, and

(b)a reference to obtaining (directly or indirectly) the value of an asset or otherwise deriving (directly or indirectly) a benefit from it.