(1) The sums allowable as deductions from the consideration in the computation for the purposes of capital gains tax of the gain or loss accruing to an individual on the disposal of shares in respect of which any relief has been given and not withdrawn shall be determined without regard to that relief, except that where those sums exceed the consideration they shall be reduced by an amount equal to the lesser of -
(a) the amount of that relief, and
(b) the excess,
but this subsection does not apply to a disposal to which section 1028(5) or 1031M(5) relates.
(2) In relation to shares in respect of which relief has been given and not withdrawn, any question -
(a) as to which of any such shares issued to a person at different times a disposal relates, or
(b) whether a disposal relates to such shares or to other shares,
shall for the purposes of capital gains tax be determined as for the purposes of section 508M.
(3) Where an individual holds shares in a company and the relief has been giv
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