The rules for share loss relief have evolved over the years. They were overhauled in 1998, but smaller changes have been made since then. The current rules, for shares issued since 6 April 2006 or subscribed for since 22 March 2006, are set out in ¶330-400 and ¶330-450. Those rules are modified for disposals of shares that were issued or subscribed for before those dates.
Shares issued after 5 April 1998
Shares issued before 6 April 2006 or subscribed or before 22 March 2006
The gross assets requirement limits for shares issued before 6 April 2006, or subscribed for before 22 March 2006, are £15m before the issue and £16m after the issue.