CG50528 - Share identification rules: 1982 to 1985: share identification rules

New share identification rules were introduced by FA1982. At this time there was no distinction between `relevant securities', see CG50531, and other securities. Therefore, the rules applied to all shares and securities. The basic rules required you to identify disposals in the following order

• first against acquisitions on the same day
• second against acquisitions in the previous twelve months on a first in first out basis
• finally, against other acquisitions on a last in first out basis. The last in first out basis also applied to assets held on 6 April 1965.

This order of identification meant that disposals were identified first against acquisitions which did not qualify for indexation allowance.