Share buy-back—HMRC advance clearance
The company may apply to HMRC for advance clearance as to the treatment of any payment to be made by it for the buy-back of shares (ie whether it will fall to be treated as a distribution or capital payment)1.
The application must be made in writing giving full particulars of the transactions proposed and should be sent to HMRC's Clearance and Counteraction Team2. HMRC then have 30 days to either request further particulars or give a decision on the application.
HMRC have indicated that the price for the shares would not normally affect its decision whether to give clearance: the decision would be made on the assumption that
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Web page updated on 24 Aug 2024 13:33