[150A Enterprise investment schemes]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[150A  Enterprise investment schemes]

[(1)     For the purpose of determining the gain or loss on any disposal of . . . shares by an individual where—

(a)     an amount of [EIS relief] is attributable to the shares, and

(b)     apart from this subsection there would be a loss,

the consideration given by him for the shares shall be treated as reduced by the amount of the [EIS relief].

(2)     Subject to subsection (3) below, if on any disposal of . . . shares by an individual after the end of the period referred to in section 312(1A)(a) of the Taxes Act [or section 159(2) of ITA 2007] where an amount of [EIS relief] is attributable to the shares, there would (apart from this subsection) be a gain, the gain shall not be a chargeable gain.

[(2A)     Notwithstanding anything in section 16(2), subsection (2) above shall not apply to a disposal on which a loss accrues.]

(3)     Where—

[(a)     an individual's liability to income tax has been reduced (or treated by virtue of section 304 of the Taxes Act or section 245 of ITA 2007 (spouses and civil partners) as reduced) for any year of assessment under section 289A of the Taxes Act or section

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Repudiation

RepudiationThis Practice Note concerns repudiation and sets out what a repudiatory breach of contract means. It explains how a repudiatory breach goes to the core of the contract and the options or remedies available to an innocent party as a result of the other party’s repudiation, which include

LEXISNEXIS

Common law offence of false imprisonment

Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert

LEXISNEXIS

PRA Rulebook—introduction for the insurance and reinsurance sector

PRA Rulebook—introduction for the insurance and reinsurance sectorOn 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise