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CG51821 | Share reorganisations: consideration paid: TCGA92 S128 (2)

From HM Revenue & Customs · Capital Gains Manual

Consideration will normally be given in the form of cash. TCGA92/S128 (2) provides consideration does not include

  • any surrender, cancellation or other alteration of the original shares or of the rights attaching to them, or

  • any consideration consisting of the application of the assets of the company or of a dividend or distribution declared but not made.