Amount of

Legislation/Regulatory – CTA2010 s. 75

Bonus issues

Commentary – Tax Reporter ¶330-200

Chargeable gains

Legislation/Regulatory – TCGA92 s. 125A

Claims for

Legislation/Regulatory – CTA2010 s. 70
HMRC Guidance – VCM75280 ; VCM77040

Company reconstructions, disapplication

Legislation/Regulatory – CTA2010 s. 68(3)

Disposals of new shares

Legislation/Regulatory – CTA2010 s. 74, Sch. 2, para. 27

Eligibility conditions

Legislation/Regulatory – CTA2010 s. 68(1), 69
HMRC Guidance – CG13273 ; VCM71020 ; VCM73020 ; VCM77030

Entitlement to claim

Legislation/Regulatory – ITA2007 s. 132
HMRC Guidance – VCM70120 ; VCM74020 ; VCM75280

How relief works

Legislation/Regulatory – CTA2010 s. 71 ; ITA2007 s. 133
HMRC Guidance – BIM85080 ; VCM74030 ; VCM74050 ; VCM75280 ; VCM77050

Interpretation

Legislation/Regulatory – CTA2010 s. 90
HMRC Guidance – VCM71010 ; VCM71020 ; VCM77030

Investment companies

Commentary – Tax Reporter ¶760-200 ; Ford on Tax Losses 16.1.4Ford on Tax Losses 16.1.6

Limit on deduction if accounting period falls partly within 12 month period

Legislation/Regulatory – CTA2010 s. 72
HMRC Guidance – VCM70160 ; VCM77040

Limits on

Legislation/Regulatory – CTA2010 s. 75 ; ITA2007 s. 147
HMRC Guidance – VCM72060 ; VCM75200 ; VCM75400 ; VCM75410 ; VCM75420 ; VCM75430 ; VCM75450

Mixed holdings

Disposal of shares forming part of

Legislation/Regulatory – CTA2010 s. 76, 77

Identification of shares

Legislation/Regulatory – ITA2007 s. 148, 149
HMRC Guidance – VCM71030 ; VCM72060 ; VCM74035 ; VCM75400 ; VCM75440 ; VCM75450 ; VCM75460 ; VCM75470 ; VCM75480 ; VCM75490

Mixed holdings, limit on relief and identification rules

Commentary – Tax Reporter ¶330-250

Non-enterprise investment scheme shares

Exchange of shares for shares in another company

Commentary – Tax Reporter ¶330-300

Qualifying trading company

Commentary – Tax Reporter ¶330-350–Tax Reporter ¶330-500
HMRC Guidance – CG50260

Subscription requirement

Commentary – Tax Reporter ¶330-200

Overview

Legislation/Regulatory – ITA2007 s. 131
HMRC Guidance – BIM85045 ; BIM85080 ; CG13145 ; CG15831 ; CG58300 ; CG9 ; LLM6040 ; LLM6050 ; SACM11005 ; VCM20130 ; VCM23180 ; VCM70130 ; VCM70140 ; VCM71040 ; VCM74100 ; VCM74110 ; VCM74120 ; VCM75250 ; VCM75340 ; VCM75390 ; VCM77070

Property-rich entities

Commentary – Ford on Tax Losses 16.3.3

Qualifying shares

Bonus issues

Commentary – Tax Reporter ¶330-200

Disposal out of share pools

Commentary – Tax Reporter ¶330-250 ; Tax Reporter ¶713-740

Exchange of shares for shares in another company

Commentary – Tax Reporter ¶330-300

Limit on relief and identification rules for mixed holdings

Commentary – Tax Reporter ¶330-250

Mixed holdings

Commentary – Tax Reporter ¶330-250 ; Tax Reporter ¶713-740

Share exchanges

Commentary – Tax Reporter ¶330-200

Spouses and civil partners

Commentary – Tax Reporter ¶330-200

Qualifying trading companies

Company in administration, meaning

Legislation/Regulatory – CTA2010 Sch. 2, para. 50

Control and independence requirement

Legislation/Regulatory – CTA2010 s. 81, Sch. 2, para. 31

Corresponding bonus shares

Legislation/Regulatory – CTA2010 Sch. 2, para. 51

Exchange of shares for shares in another company

Legislation/Regulatory – CTA2010 s. 87, Sch. 2, para. 37

Excluded activities

Legislation/Regulatory – CTA2010 Sch. 2, para. 43-49

Gross assets requirement

Legislation/Regulatory – CTA2010 s. 84, Sch. 2, para. 34
HMRC Guidance – VCM71020

Interpretation

Legislation/Regulatory – CTA2010 Sch. 2, para. 39, 40

Leasing ships, excluded activities

Legislation/Regulatory – CTA2010 Sch. 2, para. 45

Meaning

Legislation/Regulatory – CTA2010 s. 78, Sch. 2, para. 28

Power to amend requirements by Treasury order

Legislation/Regulatory – CTA2010 s. 86, Sch. 2, para. 36
HMRC Guidance – VCM75130

Property managing subsidiaries requirement

Legislation/Regulatory – CTA2010 s. 83, Sch. 2, para. 33, 41

Provision of services or facilities for another business, excluded activities

Legislation/Regulatory – CTA2010 Sch. 2, para. 49

Qualifying subsidiaries requirement

Legislation/Regulatory – CTA2010 s. 82, Sch. 2, para. 32

Qualifying subsidiaries, meaning

Legislation/Regulatory – CTA2010 Sch. 2, para. 42

Royalties and licence receipts, excluded activities

Legislation/Regulatory – CTA2010 Sch. 2, para. 46-48

Substitution of new shares for old shares

Legislation/Regulatory – CTA2010 s. 88, Sch. 2, para. 38

Time of issue of corresponding bonus shares

Legislation/Regulatory – CTA2010 s. 89

Trading requirement

Legislation/Regulatory – CTA2010 s. 79, 80, Sch. 2, para. 29, 30
HMRC Guidance – VCM71020

Unquoted status requirement

Legislation/Regulatory – CTA2010 s. 85, Sch. 2, para. 35

Wholesale and retail distribution, excluded activities

Legislation/Regulatory – CTA2010 Sch. 2, para. 44

Qualifying trading companies (EIS relief not attributable)

Administration or receivership, ceasing to meet trading requirement

Legislation/Regulatory – ITA2007 s. 138, Sch. 2, para. 41

Control and independence requirement

Legislation/Regulatory – ITA2007 s. 139, Sch. 2, para. 42

Deemed time of issue of shares

Legislation/Regulatory – ITA2007 s. 150
HMRC Guidance – VCM75500

Disposals of new shares

Legislation/Regulatory – ITA2007 s. 136, Sch. 2, para. 39
HMRC Guidance – VCM70170 ; VCM75330 ; VCM75340 ; VCM75350 ; VCM75360 ; VCM75380 ; VCM75390

Exchange of shares for shares in another company

Legislation/Regulatory – ITA2007 s. 145, Sch. 2, para. 48
HMRC Guidance – VCM70170 ; VCM74900 ; VCM75350 ; VCM75360 ; VCM75370

Generally

Legislation/Regulatory – HMRCBrf 41/10 ; ITA2007 s. 134, Sch. 2, para. 38
HMRC Guidance – VCM71020 ; VCM72040 ; VCM74080 ; VCM74120 ; VCM74320 ; VCM74330 ; VCM74610 ; VCM74900 ; VCM74920 ; VCM74950 ; VCM75000 ; VCM75120 ; VCM75500

Gross assets requirement

Legislation/Regulatory – ITA2007 s. 142, Sch. 2, para. 45
HMRC Guidance – VCM71020 ; VCM75100 ; VCM75500

Interpretations

Legislation/Regulatory – ITA2007 s. 151, Sch. 2, para. 50
HMRC Guidance – VCM71010 ; VCM71020 ; VCM71030 ; VCM71040 ; VCM74060 ; VCM74990

Power to amend requirements

Legislation/Regulatory – ITA2007 s. 144, Sch. 2, para. 47
HMRC Guidance – VCM75130

Property managing subsidiaries requirement

Legislation/Regulatory – ITA2007 s. 141, Sch. 2, para. 44
HMRC Guidance – VCM72040 ; VCM74950

Qualifying subsidiaries requirement

Legislation/Regulatory – ITA2007 s. 140, Sch. 2, para. 43
HMRC Guidance – VCM74920

Subscriptions for shares

Legislation/Regulatory – ITA2007 s. 135
HMRC Guidance – VCM70170 ; VCM74060 ; VCM75310 ; VCM75330

Substitution of new shares for old shares

Legislation/Regulatory – ITA2007 s. 146, Sch. 2, para. 49
HMRC Guidance – VCM70170 ; VCM74900 ; VCM75350 ; VCM75500

Time of issue of shares

Legislation/Regulatory – ITA2007 s. 150

Trading requirement

Legislation/Regulatory – ITA2007 s. 137, Sch. 2, para. 40
HMRC Guidance – VCM71020 ; VCM72040 ; VCM74330 ; VCM74610 ; VCM74620 ; VCM74640 ; VCM75130

Unquoted status requirement

Legislation/Regulatory – ITA2007 s. 143, Sch. 2, para. 46
HMRC Guidance – VCM72040 ; VCM75110 ; VCM75500

Qualifying trading company

Control and independence requirement

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

Earlier years' rules

Commentary – Tax Reporter ¶330-500
HMRC Guidance – CG50260

Excluded company

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

General rules

Commentary – Tax Reporter ¶330-400

Generally

Commentary – Tax Reporter ¶330-350 ; Tax Reporter ¶713-720

Gross assets requirement

Commentary – Tax Reporter ¶330-450 ; Tax Reporter ¶713-720
HMRC Guidance – CG50255

Investment company

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

Other requirements

Commentary – Tax Reporter ¶713-720

Post-5 April 1998

Commentary – Tax Reporter ¶330-500
HMRC Guidance – CG50260

Pre-6 April 1998

Commentary – Tax Reporter ¶330-500
HMRC Guidance – CG50260

Property managing subsidiaries requirement

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

Qualifying subsidiaries requirement

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

Terms and requirements, meaning of

Commentary – Tax Reporter ¶713-730
HMRC Guidance – CG50260

Trading company, meaning

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

Trading requirement

Commentary – Tax Reporter ¶330-450
HMRC Guidance – CG50255

UK business requirement

Commentary – Tax Reporter ¶330-400 ; Tax Reporter ¶713-720

Unquoted status requirement

Commentary – Tax Reporter ¶330-450 ; Tax Reporter ¶713-720
HMRC Guidance – CG50255

Relief against income

Commentary – Ford on Tax Losses 5.3.2

Share exchanges

Commentary – Tax Reporter ¶330-200

Specified disposals

Legislation/Regulatory – CTA2010 s. 68(2)
HMRC Guidance – VCM77070

Spouses and civil partners

Commentary – Tax Reporter ¶330-200

Subscription for shares

Legislation/Regulatory – CTA2010 s. 73
HMRC Guidance – VCM74060

Substantial shareholdings exemption

Commentary – Ford on Tax Losses 16.1.2Ford on Tax Losses 16.1.5

Unlisted shares in trading companies

Cap on tax relief introduced by Finance Act 2013

Commentary – Tax Reporter ¶330-000

Claims and interactions

Commentary – Tax Reporter ¶330-100

Claims for relief

Commentary – Tax Reporter ¶713-700

Conditions for relief

Commentary – Tax Reporter ¶330-050

Exchanges and reconstructions

Commentary – Tax Reporter ¶330-050

Generally

Commentary – Tax Reporter ¶330-000 ; Tax Reporter ¶713-700

How the relief works

Commentary – Tax Reporter ¶330-100

Legislation

Commentary – Tax Reporter ¶713-700

Qualifying shares

Commentary – Tax Reporter ¶330-150–Tax Reporter ¶330-300

Value shifting and limits on relief

Commentary – Tax Reporter ¶330-050