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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Capital distributions: rights issue: different class of share

A company may make a rights issue of a single class of share in respect of different classes. For example, it may make a rights issue of ordinary shares in respect of ordinary shares and ‘A’ ordinary shares. If a taxpayer holds both classes of share any rights sold should be apportioned rateably between the two holdings.