CG67880 - Reliefs: employee-ownership trusts: transitional provisions
皇冠体育app rules governing the relief are slightly different for disposals that took place on or after 6 April 2014 but before 26 June 2014. This is because some significant amendments to the legislation as originally published were not published until the latter date. 皇冠体育app points below summarise the differences and refer to the guidance which applies where relief is claimed in connection with disposals during this period.
CG67822 皇冠体育app settlement has to meet the 鈥榓ll-employee benefit requirement鈥� at the time of the disposal but not for the remainder of the year in which it took place, that is the year ended 5 April 2015.
CG67823 皇冠体育app settlement has to meet the 鈥榗ontrolling interest requirement鈥� only at the end of the tax year in which the disposal took place, that is at 5 April 2015.
CG67855 皇冠体育app value of the 鈥榩articipator fraction鈥� during the period beginning with the disposal and ending at the end of the tax year in which the disposal took place is not relevant in determining if the 鈥榣imited participation requirement鈥� is met.
CG67860 皇冠体育app special rules regarding 鈥榙isqualifying events鈥� in the tax year next following a disposal by P of shares in C do not apply.
CG67861 Instead of the rules at CG67860 applying, CG67861 describes the consequences of a 鈥榙isqualifying event鈥� during the year of disposal.
CG67866 皇冠体育app rules specifying the consequences of a 鈥榙isqualifying event鈥� in the tax year next following a deemed disposal by trustees under TCGA92/S71 do not apply. 皇冠体育appre are no special, alternative rules analogous to those at CG67861, which apply in these circumstances.