136 Transactions of close companies
Inheritance Tax Act 1984 (1984 c 51) | Legislation

136  Transactions of close companies

(1)     This section applies where the transferred property consists of shares in a close company and at any time after the chargeable transfer and before the relevant date there is a relevant transaction in relation to the shares; and for this purpose “relevant transaction” means a transaction which is—

(a)     the making of a transfer of value by the company, or

(b)     an alteration in so much of the company's share or loan capital as does not consist of [quoted

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