Share premium CTA10/S1025

Where:

a company issues share capital at a premium representing new consideration, and

the company subsequently makes a repayment of share capital,

the premium is treated as forming part of that share capital for the purposes of deciding the extent of any repayment of share capital. However, the premium is not treated in this way to the extent it has been used in paying up share capital under CTA10/S1115 (3) – see CTM15130.

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