Part 4

Loss relief
Chapter 5

Losses on disposal of shares

Qualifying trading companies: supplementary

Deemed time of issue for certain shares
89
1
This section applies for the purposes of the following provisions—
...
- section 84(1)(a) and (2)(a),
- section 85(1), and
- section 88(2)(b).
2
If—
a
any shares (“the original shares”) have been issued to a company, or are treated under this subsection as having been issued to the company at a particular time, and
b
any corresponding bonus shares are subsequently issued to the company,
the bonus shares are treated as having been issued at the time the original shares were issued to the company or are treated as having been so issued.
Pt. 4 modified (with effect in accordance with reg. 1(2) of the amending S.I.) by The Risk Transformation (Tax) Regulations 2017 (S.I. 2017/1271), regs. 1(1), 10
Words in s. 89(1) omitted (with effect in accordance with s. 38(3) of the amending Act) by virtue of Finance Act 2020 (c. 14), s. 38(2)(b)(iii)
Pt. 4 excluded (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), s. 1(5)(e) (with ss. 15(1), 16(1))