Phoenixism: Would you Know it?
The ‘phoenixism’ anti-avoidance legislation in question at ITTOIA 2005, s 396B (‘Distributions in a winding-up’) is a curious animal in various ways. It complements changes to the transactions in securities (TiS) rules in ITA 2007, which now specifically identify a distribution in a winding-up as a TiS (at ITA 2007, s 684(2)(f)). A Trap for […]
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