The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance considers the capital gains tax implications where shares are sold in exchange for new shares.
•a mixture of the above
For guidance on the tax implications of consideration in the form of loan notes see the Loan notes and Qualifying Corporate Bonds (QCBs) and non QCBs guidance note.
The timing of the consideration also needs to be considered. Consideration may be paid straight away or it may be deferred. Deferred consideration may be fixed or the amount may be variable.
For more information see the Tax treatment of earn-outs and deferred consideration guidance note.
Exchange of shares
Where shareholders disposing of their shares receive shares in the acquiring company, CGT is deferred if the ac
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