Commentary

D6.209 Share for share exchange—clearance procedure

Corporate tax
Corporate tax | Commentary

D6.209 Share for share exchange—clearance procedure

Corporate tax | Commentary

D6.209 Share for share exchange—clearance procedure

Before any issue of shares is made, any of the companies involved in the exchange of securities may apply to HMRC for confirmation that the transactions will be effected for bona fide commercial reasons and not for tax avoidance (D6.205), giving full particulars of the proposed transactions1.

This clearance procedure is identical to that applying on a scheme of reconstruction (see D6.204 for further details).

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