TCGA92/SCH5C/PARA4 (2) & (3)

Disposals are identified:

on a first in/first out basis,

if relief and non-relief shares are acquired on the same day the non-relief shares are treated as disposed of first.

For the purposes of making this identification the share pooling rules which apply to TCGA92/S104 holdings of shares are ignored. You will have to identify as a question of fact when the shares in the Section 104 holding were acquired.

Example

An investor has the following transactions in the shares of A plc, an approved VCT:

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