Paul Higgin
Joined: 3/27/2025
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RE: Tax on sale of shares issued on demutualisation
This reply seems to suggest that the base cost for assessing a gain for cgt is the market price on demutualization. However, the following resources suggest the tax base is zero... https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg56820 https://www.legislation.gov.uk/ukpga/1992/12/section/217 Please could this be clarified.