Taxation of Chargeable Gains Act 1992 section 164FA

Loss of relief in cases where shares acquired on being issued

Section 164FA provided for the withdrawal of rollover relief where shares were acquired on being issued, as part of the reinvestment relief regime that was available before 6 April 1998.

• Section 164FA was part of the reinvestment relief provisions in Chapter 1A (sections 164A–164N) of the Taxation of Chargeable Gains Act 1992.
• The section dealt with circumstances in which relief previously given could be clawed back when the qualifying shares had been acquired on original issue.
• The entire Chapter 1A, including this section, was repealed by the Finance Act 1998 for acquisitions made on or after 6 April 1998.
• Reinvestment relief was broadly replaced by taper relief and other provisions introduced by the Finance Act 1998.