This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Capital Gains Manual

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.