Section 77E — Taxes Management Act 1970: Exception for certain pre-1974 cases

Exception for certain pre-1974 cases 77E 1 Section 77C(1) does not give power to serve a secondary-liability notice on the holder of a licence if the profits arose, or the chargeable gains accrued, to the assessed person in consequence of a contract made by the holder before 23 March 1973.

2 The exception under subsection (1) does not apply if—

a the assessed person is connected with the holder, or b the contract was substantially varied on or after 23 March 1973.

3 For the purposes of subsection (2), whether a person is connected with another is determined in accordance with section 1122 of CTA 2010.