Part 13Tax avoidance
Chapter 5BFinance arrangements
F1Supplementary
809BZSAssets
(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.