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HMRC internal manual

Capital Gains Manual

Shares and securities: introduction

Paragraphs CG50200 - CG59999 deal with shares and securities. They are mainly concerned with the position of the holder of the shares or securities but occasionally it will be necessary to look at the role of the company which issued the share or security. It is important to remember that the company and its shareholders and other participators are separate legal persons. The company is chargeable on the disposal of its assets. The shareholder is chargeable on the disposal of his or her shares or securities. Only in the case of certain non-resident companies will shareholders be chargeable on disposals made by their company, see CG57200+.

CG50200+ introduces definitions and gives some background on the issue of shares. Subsequent paragraphs deal with:

CG51500+ Share identification rules
CG51700+ Share reorganisations
CG52500+ Company reconstructions and
CG53000+ Substantial shareholdings exemption
CG53400+ Securities
CG55400+ Options and futures
CG56300+ Employee share schemes
CG56800+ Particular types of company/organisation
CG57800+ Particular types of transaction
CG59500+ Valuation of shares and securities