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HMRC internal manual

Capital Gains Manual

Roll-over relief on transfer of shares to Share Incentive Plan: the way to allow relief: introduction

Where shares are disposed of to the trustees of an approved Share Incentive Plan and achargeable gain arises, a claim may be made to have that gain deducted from theacquisition cost of a replacement asset acquired in the specified period,TCGA92/SCH7C/PARA5.

The relief is only available if claimed. Claims have to be made within a period of twoyears from the date of acquisition of the replacement asset. A company cannot claim therelief.

Although the relief operates in a similar way to business asset roll-over relief, thereare no provisions to allow an extension of the specified period for the claim to therelief. Capital Gains Technical Group would like to see any case where a claim is madeafter the expiry of this period and is pressed.