Commentary

C2.706 Disposals after 5 April 1998 (capital gains tax)

Capital gains tax
Capital gains tax | Commentary

C2.706 Disposals after 5 April 1998 (capital gains tax)

Capital gains tax | Commentary

C2.706 Disposals after 5 April 1998 (capital gains tax)

The rules described in this article apply for capital gains tax purposes to disposals after 5 April 1998 of securities and relevant securities (see C2.702); they apply with modifications in special cases, see Division C2.8. As regards disposals of relevant securities, see C2.709 and as regards disposals for corporation tax purposes, see C2.707.

Where a person holds securities in more than one capacity (eg a personal holding and a holding as trustee), a disposal of securities in one capacity cannot be matched with an acquisition in a different capacity. Matching is made in accordance with the rules in the legislation without regard to any different method of identification (eg by numbering of shares) stipulated in the disposal arrangements1.

Securities disposed of on an earlier date are matched before those disposed of on a later date2.

Disposals after 5 April 2008

Following the inclusion of all securities of the same class

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