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Commentary

58.1 Main exemption

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

58.1 Main exemption

| Commentary

58 Disposals by corporate shareholders

58.1 Main exemption

Where shareholders who are disposing of their securities (or having securities issued to them as part of the takeover or company reorganisation) are companies, any gain will be taxed to corporation tax. Disposals by corporate shareholders may fall within the substantial shareholding exemption for gains and losses arising on most disposals by trading companies of shareholdings of 10% or more in other trading companies1. The main exemption applies to disposals by trading companies (or members of trading groups) of all or part of a substantial shareholding in another trading company or the holding

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