share for share exchange relief
- share for share exchange relief
-
Where a shareholder exchanges shares (the old holding) for other shares and/or non-qualifying corporate bonds (the new holding) as part of a sale, reorganisation or reconstruction of a company, provided certain conditions are met, the shareholder is not treated as having made a disposal of the old holding for the purposes of the taxation of chargeable gains. Instead, the shareholder is treated as having acquired the new holding at the same time, and for the same consideration, as the old holding. Any new consideration given for the new holding is treated as having been given for the old holding (thereby increasing the amount of the consideration given for the old holding). When the new holding is sold, tax will be payable on any gain arising (subject to any available reliefs) (sections 126 - 138A, Taxation of Chargeable Gains Act 1992).
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
Exchange-traded fund — An exchange traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks.[1] An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs… … Wikipedia
Information and communication technologies for development — An OLPC class in Ulaanbaatar, Mongolia … Wikipedia
Comic Relief Does The Apprentice — Genre Reality Created by Mark Burnett Starring … Wikipedia
merger relief — Relief from adding to, or setting up, a share premium account when issuing shares at a premium if an issuing company has secured at least a 90% equity holding in another company. This relief applies if the issuing company is providing for the… … Accounting dictionary
merger relief — Relief from adding to, or setting up, a share premium account when issuing shares at a premium if an issuing company has secured at least a 90% equity holding in another company. This relief applies if the issuing company is providing for the… … Big dictionary of business and management
Tehran Stock Exchange — Infobox Exchange name = Tehran Stock Exchange nativename = بورس اوراق بهادار تهران type = Stock Exchange city = Tehran country = Iran coor = foundation = 1968 owner = key people = currency = commodity = listings = mc volume = indexes = homepage … Wikipedia
New York Stock Exchange — This article is about the stock exchange. For its parent company, see NYSE Euronext. New York Stock Exchange … Wikipedia
Oil-for-Food Programme — The Oil for Food Programme (OFF), established by the United Nations in 1995 (under UN Security Council Resolution 986)[1] was established with the stated intent to allow Iraq to sell oil on the world market in exchange for food, medicine, and… … Wikipedia
Reparations for slavery — is a proposal by some in the United States that some type of compensation should be provided to the descendants of enslaved people, in consideration of the labor provided for free over several centuries, which has been a powerful and influential… … Wikipedia
United Nations Relief and Works Agency for Palestine Refugees in the Near East — (UNRWA) is a relief and human development agency, providing education, health care, social services and emergency aid to over four million Palestinian refugees living in Jordan, Lebanon and Syria, as well as in the West Bank and the Gaza Strip.It … Wikipedia
