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CIOT spring conference Queens’ College Cambridge, 3-5 April 2009. Reported by MIKE TRUMAN
SPEAKERS REPORTED
- Paula Tallon BDO
- Mark Morton Mercia Group
- Paul Tucker Smith & Williamson
- Tim Beresford Davis Langdon
- Giles Mooney Professional Training Partnership
- Peter Vaines Squire Sanders & Dempsey
- Neil Warren
- John Tallon QC
Purchase of own shares
Paula Tallon considered the situation where a company purchases the shares of a major shareholder under the purchase of own share rules.
If this happens when the shares are standing at a loss is this a loss arising between connected persons which can therefore only be offset against subsequent gains on similar purchases (CGTA 1992 s 18)?
The answer is no because the section requires the acquisition of the shares by the connected...
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