Exemptions from chargeable gains tax may be available to a corporate joint venture participant company disposing of its shares in its joint venture company. Perhaps the most important exemption is that for any gains or losses arising on a company’s disposal of a substantial shareholding1. This covers, generally, any disposal by a trading company of a shareholding of 10% or more in another trading company. Under the rules, a company may be able to take advantage of the main exemption, together with one or both of two subsidiary exemptions.
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