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of <h1>Buy-back consideration treated as capital gains in buy-back year; certain consideration valued nil from 1 October 2024</h1> Where a shareholder or holder of specified securities receives consideration from a company for the company's purchase of its own shares or specified securities, the difference between the consideration received and the cost of acquisition (subject to applicable valuation rules) is treated as capital gains arising in the year the buy-back occurs. For buy-backs on or after 1 October 2024 where the consideration falls within the specified category, the value of that consideration is to be treated as nil for purposes of determining capital gains. 'Specified securities' has the statutory meaning provided under company law.
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