The Chancellor has announced that the Office for Tax Simplification (OTS) will be closed down, although two existing projects currently in progress will continue.
VCM71010 - Share Loss Relief: definitions: introduction - HMRC internal manual gov.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gov.uk Daily Mail and Mail on Sunday newspapers.
VCM70130 - Share Loss Relief: background: statutory history
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Outline
For individuals, Share Loss Relief was introduced by FA1980/S37 and has effect in relation to disposals of shares after 5 April 1980, irrespective of when the shares were acquired.
For companies, Share Loss Relief was introduced by FA1981/S36 and has effect for disposals of shares on or after 1 April 1981, irrespective of when the shares were acquired.
In 1988, the relevant parts of the 1980 and 1981 Finance Acts were consolidated as ICTA88/S573 to 576. S573 to S576 were later revised, principally by the 1994, 1998, 2000, 2001 and 2004 Finance Acts, prior to being rewritten in ITA 2007 and CTA 2010.