Commentary

C3.1916 CGT reliefs—employee-ownership trusts disqualifying events

Capital gains tax
Capital gains tax | Commentary

C3.1916 CGT reliefs—employee-ownership trusts disqualifying events

Capital gains tax | Commentary

C3.1916 CGT reliefs—employee-ownership trusts disqualifying events

Where trustees have acquired any ordinary share capital (of the company C) in circumstances where the relief in C3.1915 applies1, if any of the following disqualifying events occur after the end of the tax year following the tax year in which the acquisition occurs, they will result in the trustees being deemed to have disposed of and immediately reacquired any ordinary share capital which comprises such shares (and which have not already been disposed of and immediately reacquired) at the market value immediately before the disqualifying event2. If a disqualifying event occurs in the tax year following the tax year in which the disposal occurs, the relief is not available at all, see further C3.1815. A

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