Note that for capital gains tax purposes, securities acquired before 6 April 1965 form part of the ‘new s. 104 holding’ (see ¶556-825 from 6 April 2008.

Shares or securities are ‘quoted’ for the purposes of the provisions dealing with the commencement of capital gains tax if they had quoted market values on a recognised stock exchange on 6 April 1965 or at any time in the previous six years (TCGA 1992, Sch. 2, para. 1, 8(1), as variously applied). A ‘recognised stock exchange’ means one designated as such by an Order made by HMRC (TCGA 1992, s. 288(1) applying ITA 2007, s. 1005).

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