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Tax Planning for Company Reorganisations

David Blumenthal Partner Dewey Ballantine reports on Tolley's Tax Planning for Company Reorganisations conference held in November 2004
This LexisNexis conference was held in November 2004 and chaired by Richard Bramwell QC. In his introduction Richard explained that there was no single code governing the tax consequences of corporate reconstructions and that each tax needed to be considered separately.
Pete Miller and George Hardy of Ernst & Young began with the chargeable gains and stamp duty implications. The basic chargeable gains relief for shareholders is TCGA 1992 s 127 which provides that a transaction constituting a 'reorganisation' does not involve a disposal. A 'reorganisation' includes a reduction in share capital and is also expressly said to include two further cases: first where...

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