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Planning for the substantial shareholding exemption following M Group Holdings

Speed read
The Upper Tribunal held that the extension to the 12 month holding period under TCGA 1992 Sch 7AC para 15A did not apply unless a group had existed throughout that period. Standalone companies could establish a dormant subsidiary to ensure that a group exists, but this is potentially open to challenge under both the substantial shareholding exemption targeted anti-avoidance rule (TAAR), and the general anti-abuse rule (GAAR).

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