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HMRC internal manual

Capital Gains Manual

Share exchange: anti-avoidance: clearance prevents TCGA92/S137 applying


Once clearance has been granted, or a refusal overturned by the First-tier Tribunal, the anti-avoidance provisions of TCGA92/S137 can only be used to prevent TCGA92/S135 from applying where the clearance is voided under s.138(5). If you consider that TCGA92/S137(1) is in point please refer this to the Capital Gains Technical Team, before challenging such clearances, via the submission stencil at the front of the CG manual.