Advance clearance

Application for

Decisions on application and review procedure

Effect of notice


Associate, meaning

Clearance procedures

Company reconstructions

Attribution of relief to new shares

Exchanges resulting in acquisition of share capital by new company

No disposal on certain exchanges of shares

Reconstructions and amalgamations

Rights issues etc.

Share reorganisations

Substitution of new shares for old shares

Deferral relief

Chargeable events

Gain accruing on chargeable event

How to claim


Postponement of original gains

Qualifying investment, meaning

Qualifying shares, meaning

Reconstructions and amalgamations

Requirements for

Serial investors

Disposal, meaning

Excluded activities

Coal production


Hotels and comparable establishments

Hotels and other comparable establishments

Leasing of ships

Nursing and residential homes

Nursing homes and residential care homes

Property development

Receipt of royalties and licence fees

Servicing another business

Ship chartering


Steel production

Wholesale and retail distribution

Wholesale or retail distribution

General requirements for relief


Gross assets requirement

Gross assets, value

Held continuously, meaning

Identification of shares on disposal

Information requirements

Investing company

Chargeable asset shares requirement


Material interest, meaning


No avoidance of tax requirement

No material interest requirement

No reciprocal arrangements, requirement

No tax avoidance requirement

Non-financial activities requirement

Non-financial trade, meaning

Non-financial trading group, meaning

Property dealing

Qualifying investing company

Shares being a chargeable asset requirement

Investment relief

Amount of

Amount of relief withdrawn/reduced and assessment

Appeals, compliance certificates

Attribution of relief to shares

Compliance certificate

Compliance certificates

Compliance statement

Compliance statements

Eligibility for

Entitlement to claim

Excluded activities

Form of

General requirements


Penalties, compliance certificates or statements

Qualification period, meaning

Reconstruction and amalgamation

Replacement value


Withdrawal on disposal of shares

Withdrawal on grant of put or call options

Withdrawal on receipt of value

Issue of shares, meaning

Issuing company

Administration or receivership

Administration, ceasing to meet trading activities requirement

Death of individual

Employees, number of requirement

Excluded activities


Gross assets requirement

Independence requirement

Individual owners requirement

Individual-owners requirement

Joint-ventures requirement

Partnership requirement

Qualifying issuing company

Qualifying subsidiaries

Qualifying trade, meaning

Receivership, ceasing to meet trading activities requirement

Research and development

Trading activities requirement

Unquoted status requirement

Joint ventures requirement

Location of activity

Loss relief on disposal of shares

Anti-avoidance provisions

Eligibility for

Form of


Reconstructions or amalgamations

Losses on disposal of shares, relief for

Adjustment of corporation tax


Entitlement to claim

Form of


Tax avoidance

Maximum amount raised annually through risk capital schemes requirement

Maximum amount which can be raised

Money raised

No pre-arranged exits

No tax avoidance requirement


Non-qualifying activities

Partnerships requirement

Pre-arranged exits

Property-managing subsidiaries

Qualifying subsidiaries requirement

Reconstructions and amalgamations

Relevant investments, maximum amount

Relevant shares

Shares, requirements

Substantial shareholdings, exemption for companies

Taper relief

Treasury's powers

Use of money raised

Value of gross assets

Withdrawal of investment relief

Amount of value received

Appeals against

Connected persons, receipts of value by and from

Grounds for

How withdrawal is made

Information to be provided by investing company/issuing company

Insignificant repayments disregarded


Period of restriction, meaning

Put options and call options

Replacement value, receipt of


Value received by investing company

Value received by other persons

When value is received