CG50540 - Share identification rules: 1985+: rebasing

There were no changes to the share identification rules when rebasing to 31 March 1982 was introduced by FA1988. However, there is necessarily some impact upon 1982 holdings and shares held at 6 April 1965. These are the holdings on which taxpayers can get the benefit of rebasing. If the shares are unquoted it will be necessary to agree a valuation. The valuation needed is of the entire holding of shares of the same class at 31 March 1982 not merely those shares that are sold if there is a part disposal. By virtue of ESC/D34 this includes the 1982 holding and any shares held at 6 April 1965. It is also possible that shares acquired after 31 March 1982 on certain no gain/no loss transactions should be treated as being held on 31 March 1982.