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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Share reorganisations: consideration paid: TCGA92 S128 (2)

TCGA92/S128 (2)Consideration will normally be given in the form of cash. TCGA92/S128 (2) provides consideration does not include

  • any surrender, cancellation or other alteration of the original shares or of the rights attaching to them, or
  • any consideration consisting of the application of the assets of the company or of a dividend or distribution declared but not made.