30 Tax-free benefits
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

30  Tax-free benefits

(1)     This section has effect as respects the disposal of an asset if a scheme has been effected or arrangements have been made (whether before or after the disposal) whereby—

(a)     the value of the asset . . . has been materially reduced, and

(b)     a tax-free benefit has been or will be conferred—

(i)     on the person making the disposal or a person with whom he is connected, or

(ii)     subject to subsection (4) below, on any other person.

[(2)     But, for the purposes of corporation tax, this section does not have effect if the disposal of the asset is a disposal by a company of shares in, or securities

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