Search Legislation

Income Tax Act 2007

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 358

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Income Tax Act 2007, Section 358. Help about Changes to Legislation

358Attribution: bonus sharesU.K.
This section has no associated Explanatory Notes

(1)This section applies if—

(a)corresponding bonus shares are issued to the investor in respect of any shares (“the original shares”) included in the investment, and

(b)the original shares have been continuously held by the investor, as sole beneficial owner, from the time they were issued until the issue of the bonus shares.

(2)A proportionate part of any amount attributed to the original shares, in respect of a tax year, immediately before the bonus shares are issued is attributed to each of the shares in the holding consisting of the original shares and the bonus shares, in respect of that year.

(3)After the issue of the bonus shares this Part applies as if—

(a)the original issue had included the bonus shares, and

(b)the bonus shares had been held by the investor, as sole beneficial owner, continuously from the time the original shares were issued until the bonus shares were issued.

(4)In this section—

  • corresponding bonus shares” means bonus shares that are in the same company, are of the same class, and carry the same rights as the original shares,

  • original issue” means the issue of shares forming the investment.

Back to top

Options/Help

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?