VCM68930 - VCT: deferral relief: bonus issues and share reorganisations

TCGA92/S151B (2)

VCM68910 and VCM68920 deal with two specific cases, rights issues and the take-over of a VCT company by a non VCT company. The general rule for share reorganisations is in Section 151B (2). This will apply to bonus issues and share exchanges where a VCT company takes over another VCT company. If a taxpayer owns shares which fall into more than one of the categories in VCM68900 the share reorganisation provisions will apply separately to each category.

VCT deferral relief is abolished for shares issued after 5 April 2004.