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HMRC internal manual

Capital Gains Manual

Enterprise Management Incentives (EMI): CGT: rights issue

TCGA92/S127-130 do not operate where an individual holds qualifying shares (see CG56445), there is a share reorganisation, and the employee makes a payment for further shares, for example, a rights issue. This stops the further shares being treated as the same asset as the qualifying shares and being treated as acquired at the same time as the qualifying shares. See TCGA92/Sch7D paragraph 16.