Commentary

E3.1103 Amount and form of deferral relief

Personal and employment tax

E3.1103 Amount and form of deferral relief

E3.1103 Amount and form of deferral relief

Deferral relief allows all or part of the investor's unused qualifying expenditure (see E3.1101) to be set off against a realised chargeable gain, to the extent that the gain is unmatched by other claims under these provisions or, for shares issued after 5 April 2012, under the SEIS reinvestment provisions (see E3.801) or, for shares issued before 6 April 2004, under the venture capital trust deferral scheme1.

The shares do not have to attract income tax relief in order to qualify for deferral relief2.

The gain can be one accruing on the disposal of any asset or on bringing into charge a deferred gain under these provisions or under the venture capital trust

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