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Share pool |
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Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
The schedule should be used for disposals of shares, securities and options which fall within the share pooling rules as introduced by FA 1985.
This schedule can be developed from the Capital gains summary schedule.
In order to calculate the pool of qualifying expenditure and indexed pool, the user is required to enter data on a separate line for each operative event which occurs; e.g. acquisitions, disposals, rights issues, bonus issues etc. For each operative event the user should enter a description, the date of the event, the date of the previous event, the number of shares (enter negative number in the case of a disposal), and the cost or proceeds relating to that event.
A chargeable gain will only be calculated where a disposal is entered with a date within the current period. Any foreign tax paid can be entered in the data entry cell at the foot of the schedule, which can then be used to reduce the gain (TCGA 1992 s 278 ) or increase the base cost if the gain is rolled over.
This schedule has no standard supporting schedules.
If there are any shares remaining in the pool at the end of the current period the values for the pool of qualifying expenditure and indexed pool will be carried forward to next year's computation.
© 2009 Thomson Reuters.