It is possible for a gain or loss on a disposal to be exempted under both the exemption election and under other capital gains exemptions including the substantial shareholding exemption and the exemption for capital disposals by UK real estate investment trusts (REITs).
Where the rules both apply, there are provisions that provide which exemption has priority and also how the different exemptions are to be calculated generally.
Interaction with the substantial shareholding exemption
The exemption election and substantial shareholding exemptions can interact in the case of a company making an indirect disposal of UK land where1:
- Ìý
•ÌýÌýÌýÌý the investing company is owned by a qualifying fund or qualifying company (both referred to as 'Q')
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Web page updated on 24 Aug 2024 14:33