741 Application of section 742 (partial exemption)
Income Tax Act 2007 (2007 c 3) | Legislation

741  Application of section 742 (partial exemption)

(1)     Section 742 (partial exemption where later associated operations fail conditions) applies if—

(a)     an individual is liable to tax because of section 720 or 727 for a tax year (the “taxable year”) because condition B in section 737(4) (genuine commercial transaction: post-4 December 2005 transactions) is not met, and

(b)     subsections (2) and (3) apply.

(2)     This subsection applies if—

(a)

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