»Ê¹ÚÌåÓýapp

TCGA92/SCH5B/PARA2

»Ê¹ÚÌåÓýapp relief is given by treating the gain as not arising until some future date. »Ê¹ÚÌåÓýappre is no requirement that the proceeds of the disposal are actually invested in the subscription for the new shares. »Ê¹ÚÌåÓýapp relief has to be claimed.

Example

In the tax year 1996-97 an investor makes the following transactions:

• In May disposes of a property incurring an agreed chargeable gain of £84,000.
• In September subscribes for and is issued £60,000 worth shares in an EIS company on which they get Income Tax relief.

»Ê¹ÚÌåÓýapp investor can make a claim for up to £60,000 of the £84,000 gain to be deferred.