VCT deferral relief has been abolished as regards VCT shares issued after 5 April 2004 (see E3.225). Gains previously deferred will still be brought back into charge on the occurrence of the certain chargeable events (see E3.226).
The postponed gain is deemed to accrue on the occasion of a chargeable event (see E3.226)1. Where the disposal is of only part of the holding of relevant shares, the amount of the gain brought into charge on the chargeable event is equal to so much of the original gain as has been set against the shares disposed of2.
Depending on the nature
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