substantial shareholding exemption
- substantial shareholding exemption
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An exemption for chargeable gains made by corporate sellers on the sale of shares, provided certain conditions are fulfilled. Broadly, the exemption applies to the disposal of shares in a trading company or holding company of a trading group or sub-group, provided that a holding of not less than 10% of the ordinary share capital has been held throughout a period of not less than 12 months beginning not more than two years before the disposal. The seller must be a sole trading company or member of a trading group throughout the relevant period.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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