Taxation of Chargeable Gains Act 1992 section 169VE

Which shares are in holding immediately before disposal

Section 169VE establishes rules for determining which shares remain in a holding immediately before a current disposal, where there have been one or more previous disposals from that same holding.

• The section applies when a disposal is made from a holding of shares that qualifies for investors' relief, and there have been earlier disposals from the same holding
• Its purpose is to identify which specific shares — qualifying, potentially qualifying, or excluded — were disposed of on earlier occasions and which remain in the holding at the time of the current disposal
• Where investors' relief was claimed or is being claimed on a previous disposal, the identification of shares disposed of on that occasion follows the rules in section 169VF
• Where no investors' relief was claimed on a previous disposal, the identification of shares disposed of on that occasion follows the separate rules in section 169VG