Commentary

E3.1106 Deferral relief is not available if shares cease to be eligible shares

Personal and employment tax

E3.1106 Deferral relief is not available if shares cease to be eligible shares

E3.1106 Deferral relief is not available if shares cease to be eligible shares

Eligible shares are described in E3.117.

Shares cease to be eligible shares if, before the termination date (or, for shares issued before 6 April 2000, within the five-year period), they begin to carry certain preferential rights or they begin to be entitled to do so at some future time, or if they cease to be ordinary shares1. See E3.1100 for more on the termination date.

Shares are also treated as ceasing to be eligible shares in the following circumstances:

CircumstanceCommentary
The company ceases to

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