Share loss relief is the generic term used to describe the relief contained in ITA 2007, ss 131–151 (Pt 4, Ch 6) which enables an individual to claim relief against income for what would otherwise be a capital loss on the disposal of qualifying shares. Qualifying shares are shares subscribed for in a qualifying trading company or shares on which income tax relief under the enterprise investment scheme (EIS).
For details of the relief, see E3.701A. For the definition of qualifying shares, see E3.702. For the meaning of qualifying trading company, see E3.704 (shares issued on or after 6 April 1998) and E3.706 (shares issued before 6 April 1998).
Disposal from a mixed holding of shares
Where shares are disposed of from a mixed holding, ie a holding of shares which includes both shares capable of being qualifying shares and other shares, rules are needed to determine whether, and to what extent, the disposal is of qualifying shares1. The term 'shares capable of being qualifying shares' is explained in E3.708A, and is used because
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