Taxation of Chargeable Gains Act 1992 section 151BA

CITR: identification of securities or shares on a disposal

Section 151BA establishes special identification rules for determining which securities or shares are treated as disposed of when an investor sells part of a holding that includes securities or shares attracting Community Investment Tax Relief (CITR).

• When shares or securities acquired on different days are sold, those acquired earliest are treated as sold first (a "first in, first out" rule)
• When shares or securities acquired on the same day are sold, those attracting CITR and held continuously since issue are treated as sold last, preserving the tax relief for as long as possible
• The normal share pooling and identification rules do not apply to securities or shares to which CITR is attributable; instead, this section's special rules take priority
• A "holding" means securities carrying the same rights, issued on the same terms, and held in the same capacity, or shares of the same class held in the same capacity, regardless of changes in the number held over time