http://www.legislation.gov.uk/ukpga/2007/3/schedule/2/part/6/crossheading/relief-after-an-exchange-of-shares-for-shares-in-another-company/2012-12-19
Income Tax Act 2007
An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.
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Statute Law Database
2024-06-05
Expert Participation
2012-12-19
Income Tax Act 2007
s. 788(7)
Legal Services Act 2007
Sch. 21
para. 161(b)
s. 29
192
193
s. 211(2)
art. 2(h)
SCHEDULES
SCHEDULE 2Transitionals and savings
Part 6Losses on disposal of shares
Relief after an exchange of shares for shares in another company
48
1
In relation to new shares issued before 6 April 2007, section 145 applies with—
a
the substitution for subsection (1)(e) of—
e
before the issue of the new shares, the Commissioners for Her Majesty's Revenue and Customs have, on the application of the new company or the old company, notified that company that the exchange of shares—
i
will be effected for genuine commercial reasons, and
ii
will not form part of any such scheme or arrangement as is mentioned in section 137(1) of TCGA 1992.
b
the omission of subsection (3)(a).
2
Section 145 does not apply in relation to shares issued before 6 April 1998.
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