F6-复习-7.pdf

Capital Gains Tax Disposal 3 1 2 Share Pool Same Next day 30 days (FIFO) Capital Gains Tax In contrast, the cost of shares sold by company should be matched in the following order: a) Acquisition on the same day b) Acquisition in 9 days prior to sale c) FA 1985 pool  incl. purchases from 01.04.82 to 10 days prior to sale  do not round the indexation factor in the FA85 pool (So, we must keep track of: a) The number of shares b) The cost of the shares c) The indexed cost of the shares) Capital Gains Tax Takeovers • A chargeable gain does not arise on a “paper for paper” • The cost of the original holding is passed on to the new holding. • If there is a cash element then this represents a disposal for CGT purposes and original cost needs to be apportioned between the cash and new shares received (i.e. part disposal). Capital Gains Tax-Business reliefs Gift relief • Donor no gains no loss • Conditions for gift relief: 1.Disposal is made to an individual who is UK resident or ordinarily resident 2.The asset needs only be qualifying business asset in the hands of the donor. Qualifying Business Assets • Assets used for trading purposes by a sole trader • Shares in a personal company (where the individual has at least a 5% shareholding) • Shares in unquoted