VCM52050 - VCT: investor CG disposal relief: share pooling

TCGA92/S151B (1)

The ordinary share identification rules do not apply to VCT shares whose disposal will be exempt from CGT. The 鈥榣ast in first out鈥� and other rules introduced by FA98 do not apply. It is possible for a taxpayer to hold shares in the same VCT some of which do and some of which do not qualify for the CGT exemption. For example:

  • shares may be acquired in excess of the permitted maximum for the year,
  • shares may have been acquired before the date of approval as a VCT.

The normal pooling rules apply to non-exempt shares acquired before 6 April 1998.