CG50533 - Share identification rules: 1985+: Section 104 holding

A Section 104 holding (called a `new holding' until 1998, see CG50532) is the share pool. Normally all shares of the same class in the same company acquired after 5 April 1982 and before 6 April 1998 (or, for companies, shares acquired from 1 April 1982 onwards) will be pooled in the Section 104 holding. For persons within the charge to Capital Gains Tax the Section 104 holding will grow after 5 April 1998 only if there is a bonus share issue or rights issue of the same class of share, in respect of the shares already in the Section 104 holding.

There is an exception to the pooling rule for persons other than companies where shares are subject to the `bed and breakfasting' identification rule, see CG50566. This rule has effect in relation to disposals on or after 17 March 1998.