CG50547 - Share identification rules: 1998+: position of companies

Companies within the charge to Corporation Tax are not eligible for taper relief. Share pooling was not ended for them by FA 1998. The 1985 share identification rules, summarised in CG50531 - 50541, and described in detail in CG50560 - 51236, continue to apply for companies.

From 1 April 2002 gains made by companies on share disposals may, if the necessary conditions are satisfied, be exempt under TCGA92/SCH7AC (CG53000+). In such cases the shares disposed of are identified in the same way as for disposals giving rise to chargeable gains, so that for any future disposals which do not fall within the Schedule 7AC exemption the shares disposed of can be correctly identified.