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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Close companies: transfers at undervalue: procedure

In appropriate cases the company District should ask the company to supply a list of the names and addresses of all shareholders at the date of the transfer or transfers. Particulars of the amount to be apportioned should then be notified to the general claim District of each shareholder holding five per cent or more of the issued shares. The shareholder District should keep this information in the Permanent Notes subfile until the shareholder disposes of the shares.