Clause 3 - Special provision for roll-overs
Social Security Contributions
12:00 pm
Mr John Burnett (Torridge and West Devon, Liberal Democrat)
Is it the thrust of Government policy that, if there is a bona fide exchange of shares on a takeover at approximate parity—provided that it is not part of an overt tax avoidance measure—it should be treated, to use capital gains tax jargon, as no gain, no loss, so no charge comes into play for national insurance contributions?