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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Roll-over relief on transfer of shares to Share Incentive Plan: special cases: excluded assets: EIS

If the replacement asset is shares on which EIS income tax relief has been claimed

  • before a claim for this relief is made, the replacement asset will be treated as if it is not a chargeable asset in relation to the claimant and no roll-over relief is due

or

  • after a claim for this relief is made, the replacement asset will be treated as if it is not a chargeable asset in relation to the claimant from the time of its acquisition and adjustments should be made accordingly.

The XYZ shares are regarded as a single holding. If you are dealing with a case wherethere are a number of replacement assets, you allocate the relief between them on a justand reasonable basis.

The examples are simplified. If you need help with the computations in an actual case, youshould refer to the appropriate part of the Capital Gains Manual.