Commentary

E1.537 Identification of shares after disposal

Personal and employment tax

E1.537 Identification of shares after disposal

E1.537 Identification of shares after disposal

There are special rules for identifying shares after a disposal has been made1.

In determining whether a disposal of shares in a company is of shares that were acquired when it was a VCT or others, it is assumed that the non-VCT shares were disposed of before the VCT shares2.

Where shares are acquired both within and in excess of the annual limit, for the purpose of determining the shares to which the disposal relates, two assumptions are made3. The first is that shares acquired on an earlier day are disposed of before those acquired on

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