Schedule A1 Application of taper relief

Contents

1. Introductory Section commentary
2. Period for which an asset is held and relevant period of ownership Section commentary
3. Rules for determining whether a gain is a gain on the disposal of a business Section commentary
4. Conditions for shares to qualify as business assets Section commentary
5. Conditions for other assets to qualify as business assets Section commentary
6. Companies which are qualifying companies Section commentary
7. Persons who are eligible beneficiaries Section commentary
8. Cases where there are non-qualifying beneficiaries Section commentary
9. Cases where an asset is used at the same time for different purposes Section commentary
10. Periods of limited exposure to fluctuations in value not to count Section commentary
11. Periods of share ownership not to count where there is a change of activity by the company Section commentary
11A. Periods of share ownership not to count if company is not active Section commentary
12. Periods of share ownership not to count in a case of value shifting Section commentary
13. Rules for options Section commentary
14. Further rules for assets derived from other assets Section commentary
15. Special rules for assets transferred between spouses or civil partners Section commentary
16. Special rules for postponed gains Section commentary
17. Special rule for property settled by a company Section commentary
18. Special rules for assets acquired in the reconstruction of mutual businesses et cetera etc. Section commentary
19. Special rule for ancillary trust funds Section commentary
20. General rules for settlements Section commentary
21. General rule for apportionments under this Schedule Section commentary
22. Interpretation of Schedule Section commentary
22A. Meaning of “trading company” Section commentary
22B. Meaning of “trading group” Section commentary
23. Qualifying shareholdings in joint venture companies Section commentary
24. Joint enterprise companies: relevant connection Section commentary

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