Shares will not be regarded as ‘eligible shares’ (see ¶565-750) if the individual or his spouse/civil partner (having acquired shares by an inter-spouse/civil partner transfer) ‘receives any value (other than ‘insignificant’ amounts; see ¶567-320) from the company’ during the ‘period of restriction’, which commences one year before the shares are issued and ends on the third anniversary of that issue (TCGA 1992, Sch. 5B, para. 19(1)).

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