Taxes Consolidation Act 1997 section 131

Bonus issues following repayment of share capital

Section 131 deals with the tax treatment of bonus shares issued by a company following a repayment of share capital, treating such issues as distributions in certain circumstances to prevent the tax-free extraction of profits.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.