Can anybody tell me if there is a tax liability on the acquisition of shares through a rights issue? I'm aware that when shares acquired in this way are disposed of, the capital gains tax is calculated slightly differently than on ordinarily acquired shares, but my question is, does the simple acquisition of shares through a rights issue (as opposed to on the open market) attract any kind of tax in and of itself? My confusion arises because I have recently been informed that there are tax issues concerning shares which are acquired by employees as part of their gratuitiy, etc; would the same apply to rights issue shares?