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HMRC internal manual

Capital Gains Manual

Small capital distributions: general

TCGA92/S122 (2)A capital distribution is not treated as a disposal if the distribution is small compared with the value of the shareholding, TCGA92/S122 (2). The amount of the distribution is deducted from the allowable cost of the shares. No account is taken of these distributions in deciding whether a taxpayer has used up their annual exempt amount.