Policy paper

Capital Gains Tax: share exchanges and reorganisations

This tax impact and information note is about changes to the anti-avoidance rule for share exchanges and reorganisations.

From:
HM Revenue & Customs
Published
26 November 2025

Documents

Capital Gains Tax — anti-avoidance for share exchanges and reorganisations

HTML

Draft legislation

PDF, 104 KB, 4 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Draft legislation (accessible version)

HTML

Details

This measure makes changes to the anti-avoidance provisions that apply to share exchanges and company reorganisations.

The change will take effect for issues of shares or debentures on or after 26 November 2025.

Updates to this page

Published 26 November 2025

Sign up for emails or print this page