
Print Options
PrintThe Whole
Act
PrintThe Whole
Schedule
PrintThis
Cross Heading
only
Changes over time for: Cross Heading: Interpretation


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 27/07/1999
Status:
Point in time view as at 31/07/1998.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Cross Heading: Interpretation is up to date with all changes known to be in force on or before 07 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.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
[[ InterpretationU.K.
19(1)For the purposes of this Schedule—U.K.
“arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable;
“associate” has the meaning that would be given by subsections (3) and (4) of section 417 of the Taxes Act if in those subsections “relative” did not include a brother or sister;
“eligible shares” has the meaning given by section 289(7) of that Act;
“the five year period”, in the case of any relevant shares, means the period of five years beginning with the issue of the shares;
“non-resident” means a person who is neither resident nor ordinarily resident in the United Kingdom;
“ordinary share capital” has the same meaning as in the Taxes Act;
“ordinary shares”, in relation to a company, means shares forming part of its ordinary share capital;
“qualifying business activity” has the meaning given by section 289(2) of the Taxes Act;
“qualifying company”, in relation to any eligible shares, means a company which, in relation to those shares, is a qualifying company for the purposes of Chapter III of Part VII of that Act;
“the relevant period”, in the case of any shares, means the period found by applying section 312(1A)(a) of that Act by reference to the company that issued the shares and by reference to the shares;
“relevant shares”, in relation to a case to which this Schedule applies, means any of the shares which are acquired by the investor in making the qualifying investment;
“the seven year period” has the meaning given by section 291(6) of the Taxes Act.
(2)For the purposes of this Schedule, “deferral relief” is attributable to any shares if—
(a)expenditure on the shares has been set under this Schedule against the whole or part of any gain; and
(b)in relation to the shares there has been no chargeable event for the purposes of this Schedule.
(3)In this Schedule—
(a)references (however expressed) to an issue of eligible shares in any company are to any eligible shares in the company that are of the same class and are issued on the same day;
(b)references to a disposal within marriage are references to any disposal to which section 58 applies; and
(c)references to Chapter III of Part VII of the Taxes Act or any provision of that Chapter are to that Chapter or provision as it applies in relation to shares issued on or after 1st January 1994.
(4)For the purposes of this Schedule shares in a company shall not be treated as being of the same class unless they would be so treated if dealt with on the Stock Exchange.
(5)Notwithstanding anything in section 288(5), shares shall not for the purposes of this Schedule be treated as issued by reason only of being comprised in a letter of allotment or similar instrument.]]
Back to top