Section 103 – Section 102: “substantial” acquisitions and disposals
53.Subsection (1) provides that an acquisition or a part disposal of a chargeable interest is substantial for the purpose of section 102 only if the chargeable consideration is £40,000 or more.
54.Subsections (2) and (3) provide that if the transaction is between connected parties or not at arms length, market value is to be used rather than chargeable consideration.
55.Subsections (4) and (5) include any linked transactions in the determination of whether the consideration is at least £40,000.
56.Subsections (6) and (7) include market value of linked transactions if they are not at arms length or are between connected parties.
57.Subsections (8) and (9) provide definitions of linked, purchaser, vendor and chargeable consideration.
58.Subsection (10) includes a grant of an interest as a disposal.
