Taxation of Chargeable Gains Act 1992 section 141

Stock dividends: consideration for new holding

Section 141 originally dealt with how to determine the consideration for a new holding of shares received as a stock dividend, but it has been effectively removed from the legislation.

• Section 141 previously set out rules for calculating the consideration attributable to shares received as stock dividends for capital gains tax purposes.
• The section was effectively replaced when the Finance Act 1998 substituted a new section 142 in place of both the former sections 141 and 142.
• This change applies to all share capital issued on or after 6 April 1998.
• For any share capital issued before 6 April 1998, the original provisions of section 141 would still have applied to determine the relevant consideration.