SCHEDULES

[F1 SCHEDULE 5BA U.K. Enterprise investment scheme: application of taper relief

Textual Amendments

F1 Sch. 5BA inserted (27.7.1999) by Finance Act 1999 (c. 16), s. 72(2), Sch. 7

Derivation of gains U.K.

8 U.K.For the purposes of this Schedule a gain (“the later gain”) is derived from another gain (“the earlier gain”) if—

(a) the later gain is treated as accruing in accordance with paragraph 4 of Schedule 5B on the disposal of any shares, and

(b) expenditure on those shares has been set under paragraph 2 of Schedule 5B against all or part of the earlier gain or a gain which, by virtue of this paragraph, is derived from the earlier gain.]