Income Tax Act 2007

Taxation of Chargeable Gains Act 1992 (c. 12)

306 (1) Amend section 105A (shares acquired on the same day: elections for alternative treatment) as follows.

(2) In subsection (4)—

(a) after “Chapter 3 of Part 7 of the Taxes Act” insert “, relief under Part 5 of ITA 2007”,

(b) after “section 299 of the Taxes Act” insert “or section 246 of ITA 2007”,

(c) for “of that Act” substitute “of the Taxes Act or subsection (3) of section 246 of ITA 2007”, and

(d) for “that section” substitute “section 299 of the Taxes Act or subsection (4) of section 246 of ITA 2007”.

(3) In subsection (7)—

(a) after “Chapter 3 of Part 7 of the Taxes Act” insert “or relief under Part 5 of ITA 2007”,

(b) for “that Act” substitute “the Taxes Act or section 245 of ITA 2007”, and

(c) after “that Chapter” insert “or relief under that Part”.

(4) After subsection (8) insert—

“(9) In this section references to Part 5 of ITA 2007 or any provision of that Part are to a Part or provision that applies only in relation to shares issued after 5 April 2007.”