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On the property transferring. The companies can be in a VAT group, so no VAT is charged. Similarly, Stamp Duty Land Tax is avoided if the companies are at least 75% owned by the same person. (These are land transactions, not financial).

El Pres has mentioned the Derby manoeuvre previously. It is a smoke and mirrors transaction, in the same way that QPR tried to treat a write off of Fernandes loans as ‘income’ in their Profit and Loss Account in an attempt to boost income/profits, to circumvent FFP.