Related HMRC Manuals


In the heading to s. 116B “521B” substituted for “523” (though incorrectly stated as “522” in the amending provision) by FA 2009, s. 48 and Sch. 24, para. 5(2), with effect from 22 April 2009.

116B(1)  If at any time section 521B of CTA 2009 (application of Part 5 of that Act to certain shares as rights under a creditor relationship) begins or ceases to apply in the case of a share held by the investing company it is treated for the purposes of this Act–

(a)as having disposed of the share immediately before that time for consideration of an amount equal to the notional carrying value of the share at that time, and

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