76(1)On the making of a claim by the investing company for the purposes of this Part, so much of the investing company’s unused qualifying expenditure on the qualifying shares as—U.K.
(a)is specified in the claim, and
(b)does not exceed so much of the original gain as is unmatched,
shall be set against a corresponding amount of the original gain.
(2)Where an amount of qualifying expenditure on the qualifying shares is set under this paragraph against the whole or part of the original gain, then for the purposes of corporation tax on chargeable gains—
(a)so much of that gain as is equal to that amount shall be treated as not having accrued at the accrual time, but
(b)paragraph 79 applies for determining the gain that is to be treated as accruing on the occurrence of any chargeable event in relation to any of the qualifying shares.
(3)For the purposes of this Part—
(a)the investing company’s qualifying expenditure on the qualifying shares is the amount subscribed by it for the shares, and
(b)that expenditure is unused to the extent that it has not already been set under this paragraph against the whole or any part of a chargeable gain.
(4)For the purposes of this paragraph the original gain is unmatched in relation to any qualifying expenditure on the qualifying shares to the extent that it has not had any other expenditure set against it under this paragraph.