INTM602760 - Transfer of assets abroad: Exemptions from charge: Avoidance purpose exemption - specific conditions to be met

The avoidance purpose exemption test is transactional, so the following guidance pages look at the detail of the applicable conditions depending on when the transactions took place. This follows the way in which the law is now constructed in that some exemptions apply according to whether the relevant transactions are all pre-5 December 2005 or all post-4 December 2005 transactions or include both.

For this purpose:

• “post-4 December 2005 transaction” means a relevant transaction effected on or after 5 December 2005, and
• “pre-5 December 2005 transaction” means a relevant transaction effected before 5 December 2005.

The pre-5 December 2005 provisions effectively cover those that were in ICTA 1988. This guidance does not look back in any detail at the construction and operation of the exemption provisions before the introduction of ICTA 1988.