Related Commentary  Related HMRC Manuals

809VK(1)  This section applies if–

(a)there is a disposal of all or part of the holding,

(b)the disposal counts as a potentially chargeable event or is part of the appropriate mitigation steps taken in consequence of a potentially chargeable event,

(c)a chargeable gain (but not a loss) accrues to P on the disposal,

(d)P is chargeable to capital gains tax (but not corporation tax) in respect of that gain, and

(e)the actual disposal proceeds are less than Y.

809VK(2)  The difference between the actual disposal proceeds and Y is referred to in this section as “the shortfall”.

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