Shares acquired before 26 October 1987 in a company which is
not a dependent subsidiary are not subject to the charges to Income
Tax under FA88/S79 or ICTA88/S80. Shares acquired in a dependent
subsidiary before 26 October 1987 are not subject to the Income Tax
charges in Sections 78, 79 or 80.
Where shares were acquired before 26 October 1987,
ICTA88/S138 (1)(b), (formerly FA72/S79 (7) provides for a special
benefit charge broadly similar to that in FA88/S80
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