CG14540 - Consideration for disposal: market value rule: not at arm's length
TCGA92/S17 (1) (a)
It is important to recognise when a transaction is 鈥榦therwise than by way of a bargain made at arm鈥檚 length鈥�. This is because for a transaction carried out 鈥榦therwise than by way of a bargain made at arm鈥檚 length鈥� the market value of the asset should be used as the consideration for the disposal, and/or as the acquisition cost in the computation, instead of the actual disposal proceeds or amount paid (but see CG14550 where there is an acquisition with no corresponding disposal).