The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
The 'paper for paper' rules relating to share for share exchanges are extended to deal with reconstructions. Relief is available to shareholders where there is a reconstruction involving the issue of shares, and when there is a reconstruction involving the transfer of a business. These are considered in more detail below.
For guidance on the rules relating to share for share exchanges see the Share / loan note exchanges guidance note.
Reconstructions involving the issue of shares are dealt with by TCGA 1992, s 136. This section applies where:
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