Part 4Loss relief
Chapter 6Losses on disposal of shares
Shares to which EIS relief is not attributable
135Subscriptions for shares
1
This section has effect in relation to shares to which EIS relief is not attributable.
2
An individual subscribes for shares in a company if they are issued to the individual by the company in consideration of money or money's worth.
3
If—
a
an individual (“A”) subscribed for, or is treated under subsection (4) or this subsection as having subscribed for, any shares,
b
A transferred the shares to another individual (“B”) during their lives, and
c
A was B's spouse or civil partner at the time of the transfer,
B is treated as having subscribed for the shares.
4
If—
a
an individual has subscribed for, or is treated under subsection (3) or this subsection as having subscribed for, any shares, and
b
any corresponding bonus shares are subsequently issued to the individual,
the individual is treated as having subscribed for the bonus shares.