Related Commentary  Related HMRC Manuals

1007(1)  This section applies if any security of a company is issued at a premium representing new consideration (but see also section 1008).

1007(2)  In relation to a distribution in respect of the security, the reference in paragraph E in section 1000(1) to however much of the distribution represents the principal secured by the security is to be read as a reference to the sum of–

(a)however much of the distribution represents the principal, and

(b)however much of it represents the premium.

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