The following Corporation Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Prior to 30 April 2013, the Companies Acts provided that only a company which was listed on a Stock Exchange (not including AIM) was legally allowed to purchase its own shares without having to cancel them. From 1 May 2013 onwards, any limited company is permitted to retain repurchased shares. Such shares are known as 'treasury shares'. Finance Act 2003 laid down the tax rules for the treatment of such shares.
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