VCM35210 - EIS: deferral relief: shares issued
before 6 April 1998: when is the deferred gain brought back into
charge?: shareholder becomes non-resident
TCGA92/SCH5B/PARA3 (1)(c) - (d)
The deferred gain will not be brought back into charge by
TCGA92/SCH5B/PARA3 (1)(c) and (d) if the taxpayer emigrates by
reason of their employment and all the following conditions are
satisfied:
- the shareholder becomes non-resident
because they are working in an office or employment all the duties
of which are performed outside the UK,
- the shareholder becomes resident or
ordinarily resident again within three years of the date of
becoming non-resident and the shareholder does not sell any of the
eligible shares on which they have claimed deferral relief during
the intervening period of non- residence.
If the first condition is satisfied you must wait until the end
of the three year period to see if the second and third conditions
are satisfied before assessing the deferred gain.
