Statute
Section 798 — Income Tax Act 2007: Meaning of “non-taxable consideration” etc
Text of the provision Official document
Meaning of “non-taxable consideration” etc 798 1 This section applies for the purposes of section 797.
2 Consideration is non-taxable if (apart from section 796) it is not chargeable to income tax.
3 Non-taxable consideration from which a deduction within subsection (4) is made is treated as received free of the deduction.
4 A deduction is within this subsection if it is in consideration of any person's agreeing to, or facilitating, any relevant disposal or exit event.
Official source: legislation.gov.uk
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