Section 830 | Exclusion from section 829 of group transfers

(1)For the purposes of section 829(1), any disposal within section 171 of TCGA 1992 (transfers within a group) is ignored.

(2)For the purposes of section 829(3), any transfer by one member of a group to another is ignored.

(3)This subsection applies if—

(a)a person (“A”) acquires securities on a transfer that is ignored under subsection (1), and

(b)any previous transfer that has occurred was ignored under subsection (1) or (2).

(4)If subsection (3) applies, a subsequent realisation of the securities by A is treated as a realisation by the transferor.

(5)This subsection applies if—

(a)a person (“B”) acquires an asset on a transfer that is ignored under subsection (2), and

(b)no previous transfer has occurred that was not ignored under subsection (1) or (2).

(6)If subsection (5) applies, a subsequent realisation of the asset by B is treated as a realisation by the transferee.