Reverse Stock Split Disposal?

Hello, a company i own shares in just performed reverse stock split, reducing the share count & increasing the price. In doing so my broker transactions show the old shares as being sold and the newly priced ones as being bought right after. Does this count as an asset disposal? Best Regards, Trinity

Hi Trinity Nichols,
The basic Capital Gains Tax (CGT) rules that apply to share reorganisations are:
The issue of any new shares is not treated as an acquisition.
The loss or alteration of any old shares is not treated as a disposal.
Because a share reorganisation is not treated as an acquisition, any new shares of the same class that you receive are added to the holding for which they were issued.
Please see guidance here:
HS285 Share reorganisations, company takeovers and Capital Gains Tax (2023)
Thank you.