Point in time view as at 06/04/1992.
Taxation of Chargeable Gains Act 1992, Cross Heading: Unquoted shares, commodities etc. is up to date with all changes known to be in force on or before 02 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
18(1)This paragraph has effect as respects shares held by any person on 6th April 1965 other than quoted securities within the meaning of paragraph 8 above and shares as respects which an election is made under paragraph 17 above.U.K.
(2)For the purpose of—
(a)identifying the shares so held on 6th April 1965 with shares previously acquired, and
(b)identifying the shares so held on that date with shares subsequently disposed of, and distinguishing them from shares acquired subsequently,
so far as the shares are of the same class, shares bought at a later time shall be deemed to have been disposed of before shares bought at an earlier time.
(3)Sub-paragraph (2) above has effect subject to section 105.
(4)Shares shall not be treated for the purposes of this paragraph as being of the same class unless if dealt with on a recognised stock exchange they would be so treated, but shall be treated in accordance with this paragraph notwithstanding that they are identified in a different way by a disposal or by the transfer or delivery giving effect to it.
(5)This paragraph, without sub-paragraph (4), shall apply in relation to any assets, other than shares, which are of a nature to be dealt with without identifying the particular assets disposed of or acquired.
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