Section 238(4)

For the purposes of this section and section 241, a company enters into a transaction with a person at an undervalue if— the company makes a gift to that person or otherwise enters into a transaction with that person on terms that provide for the company to receive no consideration, or the company enters into a transaction with that person for a consideration the value of which, in money or money’s worth, is significantly less than the value, in money or money’s worth, of the consideration provided by the company.

← 3 · All articles · 5 →

Source: legislation.gov.uk · retrieved 2026-09-04