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HMRC internal manual

Capital Gains Manual

Roll-over relief on transfer of shares to Share Incentive Plan: statute and content

The legislation for the relief is in TCGA92/SCH7C.

  • Paragraph 1 sets out the conditions for the relief.
  • Paragraph 2 lists the conditions for the disposal.
  • Paragraph 3 provides for the reinvestment of the disposal proceeds.
  • Paragraph 4 defines the terms used in paragraphs 2 and 3.
  • Paragraph 5 sets out the terms on which the relief can be claimed.
  • Paragraph 6 sets out special provisions for dwelling houses (this includes part of a dwelling house and land).
  • Paragraph 7 sets out special provisions for Enterprise Investment Scheme shares.
  • Paragraph 8 explains the meaning of chargeable asset.

The relief operates in a similar way to the business asset roll-over relief inTCGA92/S152 - TCGA92/S160. CG60250+ tell you about this.

This guidance tell you about the

  • conditions for the new relief, see CG61972+
  • way the new relief is given, see CG61978+
  • provisions to prevent gains being rolled over into non-chargeable assets, see CG61982+.