Bonus share capital, conversion/exchange

Bonus share capital, meaning

Legislation/Regulatory – CTA2010 s. 1051 ; ITTOIA2005 s. 414A

Generally

Legislation/Regulatory – CTA2010 s. 1050, Sch. 2, para. 108 ; ITTOIA2005 s. 410A
HMRC Guidance – CTM17030

In lieu of cash dividend, meaning

Legislation/Regulatory – CTA2010 s. 1051

Capital gains

Legislation/Regulatory – TCGA92 s. 142
HMRC Guidance – CG33800 ; CG51585 ; CG58750

Capital gains tax

Commentary – Quick Overview ¶15770

Corporation tax

Legislation/Regulatory – CTA2010 s. 1049, Sch. 2, para. 108
HMRC Guidance – CTM15400 ; CTM15420 ; CTM15450 ; CTM17005 ; CTM17010 ; CTM17030 ; CTM17040 ; SAIM5050 ; SAIM5150 ; SAIM5170

Discretionary trust, charge of deemed income at higher Schedule F rate

Case Law – Howell & Anor v Trippier (HM Inspector of Taxes). [2004] BTC 305

Discretionary trusts

Legislation/Regulatory – IRInt. 262

Distributions

Commentary – Tax Reporter ¶328-500

Enhanced stock dividends received by trustees of interest in possession trusts

Legislation/Regulatory – SP 4/94

Group distributions

Commentary – Tax Reporter ¶743-650 ; Tax Reporter ¶743-800

Income tax charge

Bonus share capital, meaning

Legislation/Regulatory – ITTOIA2005 s. 414A

Cash equivalent of share capital

Legislation/Regulatory – ITTOIA2005 s. 412
HMRC Guidance – CG33800 ; CTM17005 ; CTM17010 ; CTM17040 ; SAIM5170

Conversion etc. of bonus share capital

Legislation/Regulatory – ITTOIA2005 s. 410A

Generally

Legislation/Regulatory – ITTOIA2005 s. 409
HMRC Guidance – CTM17005 ; CTM17030 ; SAIM5150 ; SAIM5160

Income charged

Legislation/Regulatory – ITTOIA2005 s. 411
HMRC Guidance – SAIM5160 ; TSEM7678

Income tax treated as paid

Legislation/Regulatory – ITTOIA2005 s. 414
HMRC Guidance – LLM5100 ; SAIM5180

Person liable

Legislation/Regulatory – ITTOIA2005 s. 413
HMRC Guidance – SAIM5160

When stock dividend income arises

Legislation/Regulatory – ITTOIA2005 s. 410
HMRC Guidance – CG33800 ; CG56497 ; CG58750 ; CTM15400 ; CTM15420 ; CTM15450 ; CTM17005 ; SAIM5150 ; SAIM5160

Measurement of income

Legislation/Regulatory – SP A8

Real estate investment trusts

– see also Real estate investment trusts (REITs)

Generally

Commentary – Tax Reporter ¶328-450

Returns

Commentary – Tax Reporter ¶747-250
Legislation/Regulatory – CTA2010 s. 1052, 1053

Shares issued pre-6 April 1975

Legislation/Regulatory – ITTOIA2005 Sch. 2, para. 78A

Trustees

Commentary – Tax Reporter ¶353-550
Legislation/Regulatory – IRInt. 262