ERSM50500 - Securities with Artificially Depressed Value
Adjustment of consideration or benefit received
ITEPA03/S446I applies where any consideration or benefit mentioned in�
| * ITEPA03/S428 (9) (consideration on disposal of restricted securities) | ERSM30410 |
| Ìý | Ìý |
| * ITEPA03/S441Ìý(4), (5) or (9) (consideration for disposal of convertible securities or release of entitlement to convert or benefit received in respect of entitlement to convert) | ERSM40080 |
| * ITEPA03/S446CÌý(4) (securities with artificially depressed market value: MV to be amount of consideration) | ERSM50100 |
| * ITEPA03/S446X and ITEPA03/S446YÌý(3) (consideration for disposal of securities exceeding market value), or | ERSM80030 |
| * ITEPA03/S448 (securities benefit not otherwise subject to tax) | ERSM90020 |
consists (in whole or in part) in the provision of securities the market value of which is artificially low.
»Ê¹ÚÌåÓýapp market value of any securities is artificially low where it has been reduced by atleast 10% as a result of things done otherwise than for genuine commercial purposes within the period of 7 years ending with the receipt of the consideration or benefit.
Effect
»Ê¹ÚÌåÓýapp market value of the consideration or benefit is increased by the amount of the depreciatory transaction.