Instead, the issue of the Capitalisation Issue shares is treated as a reorganisation of the Company’s share capital. Consequently there is no tax credit arising in respect of the Capitalisation Issue shares. And as the Capitalisation Issue was paid up out of share premium it is not be treated as a distribution for tax purposes and so should not give rise to a charge to tax on income for shareholders.
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The issue of the Capitalisation shares is not subject to stamp duty or stamp duty reserve tax. An investor holding 39 Lloyds Banking Group shares on would not receive any Capitalisation Issue shares. For example, an investor holding 420 Lloyds Banking Group shares on, would have received 10 Capitalisation Issue shares - one for every 40 shares held.
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Investors holding fewer than 40 ordinary shares did not receive any Capitalisation Issue shares. No fractional shares were issued, and entitlement was rounded down to the nearest whole share. The new shares were actually issued/alloted on. Investors received 1 Capitalisation Issue share for every 40 shares Lloyds Banking Group shares held at close of business on (the Record Date). On 27 February 2009 the Lloyds Banking Group Board announced a Capitalisation Issue (sometimes referred to as a Bonus or Scrip Issue) in the ratio 1:40. Manage your Investment Club.Ĭapitalisation Issue Lloyds Banking Group Calculate your UK HMRC Capital Gains Tax liabilities.
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