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G4: Purchase of own shares

INCOME TAX

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Transactions in securities

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- Purchase of own shares is a transaction in securities

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- Purchase of shares is expressly a transaction in securities (ITA 2007 s.684(2)).

- Normally no income tax advantage where purchase is by a UK company as the receipt will be a distribution (CTA 2010, s.1000).

Legislation: 

Cases: 

HMRC manuals: 

Commentary: 

See also:

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 © 2023 by Michael Firth, Gray's Inn Tax Chambers

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