substantial shareholding exemption

substantial shareholding exemption
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.
For further information, see the HM Revenue & Customs website.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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