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tax2025(Newbie)Newbie
15 Oct 2024

Is a scheme of arrangement a change of company ownership from Virgin Money UK to Nationwide?

What's the treatment of consideration received from Virgin Money UK scheme of arrangement?

Is this a reduction of the cost base? Are the shares/units still owned but in the new company, Nationwide from the effective date 1/10/2024?

Or is the scheme of arrangement consideration treated as sale proceeds and therefore a CGT is calculated, where by the cost base is deducted from the consideration received?


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