This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Regulations)
The Regulations make provision in relation to the valuation of listed shares, securities and government strips on and after 6th April 2015 for the purposes of Taxation of Chargeable Gains Act 1992 and the Income Tax (Trading and Other Income) Act 2005. The Regulations do not apply for the purposes of Taxation of Chargeable Gains Act 1992 in relation to shares or securities listed on a foreign exchange or where in consequence of special circumstances, the closing prices quoted in the Stock Exchange Daily Official List are by themselves not a proper measure of market value of the listed shares or securities.
Regulation 2 makes provision in relation to shares, securities or strips which are included in the official UK list, and regulation 3 makes provision in relation to securities or strips which are not included in the official UK list but are listed on a recognised stock exchange outside the United Kingdom. The market value of the shares, securities or strips is determined by reference to the Stock Exchange Daily Official List or the foreign equivalent of that list.
Regulation 4 makes a consequential amendment to the Authorised Investment Funds (Tax) Regulations 2006.
A Tax Information and Impact Note covering this instrument was published on 10th December 2013 alongside draft Finance Bill clauses and is available on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm. It remains an accurate summary of the impacts that apply to this instrument.
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