Gifts: gifts of shares or securities to companies
Gifts hold-over relief ceased to be available in connection with disposals of shares or securities to companies on or after 9 November 1999 by virtue of an amendment to TCGA92/S165 (3)(b).
This part of the hold-over relief provisions, which was otherwise concerned with the interaction of hold-over relief and retirement relief, was repealed with effect for disposals after 5 April 2003 as part of the phasing out of CGT retirement relief.
Thus, for disposals made in the period from 6 April 2003 to 20 October 2003 (inclusive), the anti-avoidance measure introduced in 2000 does not apply and hold-over relief is available on disposals of shares or securities to companies in any case where the requirements of TCGA92/S165 are met. FA 2004 restored the anti-avoidance measure (it is now at TCGA92/S165 (3)(ba)), so that disposals of shares or securities to companies on or after 21 October 2003 will not qualify for hold-over relief.
Where a claim for hold-over relief under TCGA92/S165 is submitted on or after 6 April 2003, in respect of a gift to a company of any shares or securities said to have been made in the period 6 April 2003 to 20 October 2003 (inclusive), you should inform Capital Gains Technical Group, sending a brief report of the amount involved in cases which you believe to be genuine and a formal submission in other cases.