There are more than 60 specific provisions in the Tax Acts to challenge a “primarily tax-motivated non-bona fide commercial transaction”. The omnipresent threat of the general anti-avoidance provision, s811C of the Taxes Consolidation Act 1997 (TCA 1997), also lurks in the undergrowth to catch any other perceived abuses of the tax system. Furthermore, certain other provisions, such as s817 TCA 1997, which seeks to counteract any transactions involving the disposal of shares without a significant reduction in the interest in a business, could apply where there has been any tax motivation.
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