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Where trustees have acquired any ordinary share capital (of the company C) in circumstances where the relief in C3.1915 applies¹, if any of the following disqualifying events occur after the end of the fourth tax year following the tax year in which the acquisition occurs (this period has been extended for disposals on or after 30 October 2024, prior to this date it was events occurring after the end of the tax year following the year of acquisition), they will result in the trustees being deemed to have disposed of and immediately reacquired any ordinary share capital which comprises such shares (and which have not already been disposed of and immediately reacquired) at the market value immediately before the disqualifying event². If a disqualifying event occurs in the tax year following the tax year in which the disposal occurs, the relief is not available at all, see further C3.1815.

A disqualifying event occurs, so that there is a deemed disposal and reacquisition when:

1. Ìý

   •ÌýÌýÌýÌý for disposals on or after 30 October