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This text provides a comprehensive analysis of the company law and taxation implications of own share acquisitions and redemptions by UK companies. All issues which arise out of this type of company share transactions are examined. These include: the rule against own share acquisitions, shares held by company's nominee, the issue of redeemable shares, powers and procedures for purchases and redemptions, financial assistance, tax strategy and clearances, wide range of precedents including contracts, resolutions, Articles, notices, and letters to the Inland Revenue. This edition brings practitioners up-to-date with all relevant developments in tax and company law and practice, including coverage of important cases such as Arab Bank plc versus Mercantile Holdings Ltd (1993) and a re-working of examples using current tax rates. The range of precedents in the previous edition has been expanded and includes precedents for implementing written resolution procedure introduced by the Companies Act 1989. The range of non-statutory material has also been expanded.