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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Connected persons: relatives

Where there has been a transaction between relatives who are not connected persons, say between an uncle and his nephew, or a transaction which does not involve both a disposal and an acquisition, say writing off a debt, you can still apply the market value rule if the transaction was otherwise than by way of a bargain at arm’s length. See CG14542.