HMRC’s has updated the transactions in securities section of its company taxation manual. The manual has been rewritten to update it for the revised transactions in securities rules that apply in relation to income tax from 24 March 2010. Changes contained in the Finance Bill 2016, are not reflected in the updated manual.
The revised guidance deals with, amongst other things, circumstances where a tax advantage may be said to arise and where clearance may be given.
The new guidance is available to view here.