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Taxation of Chargeable Gains Act 1992

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Changes over time for: Paragraph 8

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Point in time view as at 15/09/2016.

Changes to legislation:

Taxation of Chargeable Gains Act 1992, Paragraph 8 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. Help about Changes to Legislation

[F18(1)In this Schedule—U.K.

  • bonus shares” means shares which are issued otherwise than for payment (whether in cash or otherwise);

  • corresponding bonus shares”, in relation to any shares (“the original shares”), means bonus shares which are in the same company, of the same class, and carry the same rights as the original shares;

  • SEIS relief” has the same meaning as in Part 5A of ITA 2007.

(2)In this Schedule, references (however expressed) to an issue of shares in any company to an individual are to such of the shares in the company as are of the same class and are issued to the individual in one capacity and on the same day.

This is subject to sub-paragraph (3).

(3)If section 257AB(1) and (2) of ITA 2007 applies, in the case of any issue of shares made to an individual, as if part of the issue had been issued in a previous tax year, this Schedule has effect as if that part and the remainder were separate issues of shares (and that part had been issued on a day in the previous tax year).

(4)Part 5A of ITA 2007 applies, for the purposes of this Schedule, to determine whether SEIS relief is attributable to any shares and, if so, the amount of relief so attributable.]

Textual Amendments

F1Sch. 5BB inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 6 para. 5

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