CGT re share capital reduction

CGT re share capital reduction

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Company had share capital of £20k and this was reduced to £100 in advance of going down the ESC C16 route.

Are there any immediate capital gains tax implications for the sole shareholder as a result of the reduction to the share capital (prior to the distribution under ESC C16)?

When the final distribution is made (c£50k p&l plus previous share cap of £19.9k) is the base cost for cgt purposes £19.9k?

TIA

EW

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