Part 13Tax avoidance

Chapter 2Transfer of assets abroad

Exemptions: no tax avoidance purpose or genuine commercial transaction

736Exemptions: introduction

1

Sections 737 to 742 deal with exemptions from liability under this Chapter.

2

Some exemptions apply according to whether the relevant transactions are all pre-5 December 2005 transactions or all post-4 December 2005 transactions or include both (see sections 737, 739 and 740).

3

In this section and sections 737 to 742—

  • post-4 December 2005 transaction” means a relevant transaction effected on or after 5 December 2005, and

  • pre-5 December 2005 transaction” means a relevant transaction effected before 5 December 2005.