The chargeable gain or allowable loss on unquoted shares or securities held at 6 April 1965 was calculated on an individual asset basis, subject to time apportionment or election for use of market value at 6 April 1965 in the same way as for other assets (see ¶520-750ff.). Where original cost is an important factor – i.e. where no market value election was made – identification rules are required as set out below (TCGA 1992, Sch. 2, para. 18(1)).

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