Family Trading Company(ies)
12/06/1980
Query
Partition of Family Trading Company(ies).
Decision
Where a family trading company (or group of companies) is broken up into separate individual trading companies, such an event will not be regarded as a disposal for CGT purposes provided that the value of each individual's holding in the company or group remains strictly unaltered and also provided certain other conditions are met. Prior approval and formal undertakings will be required. Requests for this treatment should be addressed to the Technical Services (CGT) area in the office of the Chief Inspector of Taxes.
Capital Gains Tax
Section 0, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:G.12