Business expansion
My client owns some shares that were purchased under the business expansion scheme so that any capital gain that arises on disposing of that holding is exempt from tax. However he has also acquired additional shares of the same class in that company in the intervening period.
While the capital gains tax matching rules are designed to allocate costs between the various parcels of shares I cannot see how to identify which shares have been sold from what is now considered to be a pool of shares for the purpose of claiming the exempt gain. Any guidance would be welcomed.
Query 19 993 – Lost.
The same identification rules apply as to those relating to withdrawal of tax relief
The business expansion scheme (BES)applied to shares issued between 6 April 1983 and 31 December 1993 when it was replaced by the enterprise investment...
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