Commentary

C3.1323 Investors' relief—relevant employee

Capital gains tax
Capital gains tax | Commentary

C3.1323 Investors' relief—relevant employee

Capital gains tax | Commentary

C3.1323 Investors' relief—relevant employee

Investors' relief is not available where either the investor, or a person connected with him, or an eligible beneficiary is a relevant employee. As noted in C3.1322, on a sale by the trustees of a settlement, the trustees are treated as the investor for this purpose.

A person is a relevant employee if at any time in the relevant period he has been an employee1 or an officer of the issuing company or a connected company2, but this is subject to the two exceptions outlined below. Employee has the meaning in ITEPA 2003, s 4 (see E4.205A) and office has the meaning given by ITEPA 2003, s 5(3) (see E4.201)3. As employee for business asset disposal relief purposes has the same meaning, the tax cases in C3.1302A may be relevant.

A connected company is a company which at any time in the

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