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Corporation Tax Act 2010 section 1033
Purchase by unquoted trading company of own shares
Section 1033 sets out the conditions under which a payment made by an unquoted trading company when it buys back, redeems or repays its own shares will not be treated as a distribution for corporation tax purposes, but instead falls to be treated as a capital transaction potentially giving rise to a chargeable gain in the hands of the seller.
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