SCHEDULE 8 EIS Deferred Gains: Gains Accruing on Part Disposal
Finance Act 1999 (1999 c 16) | Legislation

SCHEDULE 8 EIS Deferred Gains: Gains Accruing on Part Disposal

Section 73

Introductory

1

Schedule 5B to the Taxation of Chargeable Gains Act 1992 (relief in respect of re-investment under the enterprise investment scheme) is amended as follows.

Paragraph 4

2

(1)     In paragraph 4(1) (amount of gain accruing on chargeable event), for paragraph (b) substitute—

“(b)     the amount of the gain shall be equal to so much of the deferred gain as is attributable to the shares in relation to which the chargeable event occurs.â€

(2)     For paragraph 4(5)(a) (amount of gain where shares represented by other assets) substitute—

“(a)     so much of the deferred gain as is attributable to those shares shall be treated, in determining for the purposes of this paragraph the amount of the deferred gain to be treated as attributable to each of those assets, as apportioned in such manner as may be just and reasonable between those assets; andâ€.

(3)     After paragraph 4(5) insert—

“(6)

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