147 Limits on share loss relief
Income Tax Act 2007 (2007 c 3) | Legislation

Limits on share loss relief and mixed holdings

147  Limits on share loss relief

(1)     Subsection (2) applies if—

(a)     an individual disposes of any qualifying shares,

(b)     those shares either—

(i)     form part of a section 104 holding . . . at the time of the disposal, . . .

[(ii)     at a time earlier than the time of the disposal but after 5 April 2008 formed part of a section 104 holding, or

(iii)     at a time earlier than that time and than 6 April 2008 formed part of an old section 104 holding or a 1982 holding, and]

(c)     the individual makes a claim under section 132 in respect of a loss incurred on the disposal.

(2)     The amount of share loss relief on the disposal is not to exceed the sums that would be allowed as deductions in calculating the

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