HMRC has at last updated its guidance on company purchase of own shares and also provided a checklist for tax clearance.
The new guidance covers a basic share purchase by a trading company and updates the old guidance following the tax law re-write. It contains helpful flowcharts, examples and also contains a checklist for clearance applications. See HMRC Company Purchase of own shares helpsheet.
HMRC's guidance does not cover the company law aspects of share purchase which may be made out of distributable reservces or out of capital.
Our guidance on this:
Purchase of own shares: masterclass checklist (tax and company law)
Purchase of own shares out of distributable reserves
