Taxation of Chargeable Gains Act 1992 Schedule 5BB paragraph 8

Interpretation etc

Schedule 5BB paragraph 8 defines the key terms used throughout Schedule 5BB and establishes rules for how share issues are identified and treated for the purposes of the SEIS capital gains provisions.

• "Bonus shares" are shares issued without any payment, and "corresponding bonus shares" are bonus shares in the same company, of the same class, and carrying the same rights as the original shares they relate to.
• An "issue of shares" to an individual means shares of the same class issued to that individual in one capacity on the same day.
• Where part of a share issue is treated under ITA 2007 section 257AB as having been issued in a previous tax year, that part and the remainder are treated as two separate share issues for the purposes of this Schedule.
• Part 5A of ITA 2007 governs whether SEIS relief is attributable to any shares and, if so, the amount of that relief.