If an individual subscribes for shares in two or more issues and then receives a receipt of value within the Period C (see ¶323-030) applicable to more than one of those issues, the receipt must be allocated to particular issues to determine how much income tax relief should be withdrawn. The receipt of value is allocated rateably between the share issues according to the amounts subscribed for each of the issues concerned (ITA 2007, s. 218).

(This rule is not required for CGT deferral relief, as any amount of value received will result in the whole of the deferred gains being brought into charge; see ¶567-300.)

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.