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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Deep discount securities: conversion of securities and share exchanges

TCGA92/S118 (3)It is possible deep discount securities may be involved in transactions which are treated as share reorganisations. For example

  • a conversion of securities in which deep discount securities are exchanged for shares or other deep discount securities, TCGA92/S132, see CG55000 onwards.
  • a share exchange in which shares or debentures are issued in exchange for deep discount securities, TCGA92/S135, see CG52521.