VCM45150 - VC loss relief: general: ordinary share capital

ICTA88/S576 (5)

Relief under ICTA88/S574 may be due in respect of allowable losses arising from certain disposals of shares. ICTA88/S576 (5) limits the shares potentially eligible for the relief to shares forming part of a company’s ordinary share capital. ICTA88/S832 defines what is meant by ‘ordinary share capital’. It comprises all of the issued share capital of a company, by whatever name called, except share capital carrying a right to a dividend only at a fixed rate.