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Paragraph 434

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amend section 142 (capital gains on stock dividends) as follows.

(2)

In subsection (1) for the words from “section 249” to “that section” substitute “ section 410(2), (3) or (4) of ITTOIA 2005 applies ”.

(3)

In subsection (3) for “the appropriate amount in cash (within the meaning of section 251(2) to (4) of the Taxes Act)” substitute “ the cash equivalent of the share capital in accordance with section 412 of ITTOIA 2005 ”.