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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Conversion of securities: exceptions to reorganisation rules

There are two specific cases in which the normal reorganisation rules do not apply

  • the receipt of a small cash premium on a conversion is not treated as a disposal, see CG55030+
  • the reorganisation provisions do not apply to the issue of gilt-edged securities as compensation in a compulsory scheme of nationalisation which occurred after 6 April 1976, see CG55045+.