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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Capital distributions: rights issue: part-disposal of rights

A taxpayer may sell some rights nil paid after they have accepted some of the new shares and before they have decided to accept the rest of the rights issue. In this case the value of B is the market value of the

  • new shares already accepted
  • original shareholding
  • rights still retained.