Schedule 9 - Chargeable gains: share exchanges
Finance Bill
12:15 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I understand the point of principle that the Minister raises, and I do not want to undermine it. I simply want to know what the position will be within the existing parameters if our amendments are not made. Will there be a problem with reconstructions that are designed to simplify a company's capital structure, where ordinary shares are issued to preference shareholders or debenture holders of the original company or companies?