The Act
Part 2 – Key Concepts
Chapter 3 of Part 2 – Chargeable Transactions and Chargeable Consideration
Deemed market value
Section 23 – Exceptions from deemed market value
64.Section 23 provides three exceptions from the connected company rules in section 22 for transfers to independent corporate trustees and distributions of land, including distributions on liquidation, to corporate shareholders, other than in specific circumstances. Where the exceptions apply, the charge to LBTT will only apply to any chargeable consideration paid for the transaction.
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