Capital Gains Tax: Share for Share Exchange
This measure makes changes so that non-domiciled individuals pay tax on value built up on UK company securities in the UK, even when those securities are exchanged for securities in an offshore holding company.
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Linked documents
- Policy Paper Capital Gains Tax Share Exchange
- Bill Amendment Draft legislation
- Explanatory Note Explanatory Note
▤ Verbatim text from source document
The measure deems shares and securities in a non-UK company received in exchange for share or securities in a UK company to be located in the UK for the purpose of Capital Gains Tax.
Non-domiciled individuals will now pay tax on gains or income received from the shares or securities in the non-UK company, in the same way as if they were in a UK company.