Taxation of Chargeable Gains Act 1992 section 169VA

Overview of chapter

Section 169VA introduces investors' relief and provides a roadmap to the provisions contained in the chapter, which grants a lower rate of capital gains tax on disposals of certain ordinary shares in unlisted companies.

• Investors' relief provides a reduced capital gains tax rate on disposals of qualifying ordinary shares in unlisted companies, with detailed rules defining which shares qualify, which are potentially qualifying, and which are excluded.
• The chapter sets out how to determine which shares remain in a holding after previous disposals, and includes specific rules for disposals by trustees of settlements and disposals of interests in shares (such as joint holdings).
• There is a cap on the total amount of investors' relief that can be claimed, and the chapter prescribes how claims for the relief must be made.
• Special provisions address how investors' relief applies following corporate reorganisations of share capital, exchanges of shares or securities, and schemes of reconstruction, together with relevant definitions used throughout the chapter.