Tax treatment on shares in cooperative

Tax treatment on shares in cooperative

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This came up recently and I can't seem to find any guidance on it.  HMRC website says that shares paid in lieu of cash are taxed and NI'd, but the cooperative I was talking to seemed mystified by this and not convinced that different rules applied to them.  This may be true, but I can't find anything to support it.  Frankly, since I'm hoping to join that cooperative, I hope they're right.

Can anyone help me here and can you cite a source I can share with them when you do please?

Thanks

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