CGT relief for gifts of business assets (known as 'holdover relief') is provided for by TCGA 1992, s 165.
The held-over gain reduces the chargeable gain for the transferor and the deemed consideration for the transferee1. The gain which would have accrued to the transferor is effectively transferred to the transferee who will pay CGT on it when the asset is disposed of.
The individual transferor
Holdover relief under s 165 is available where an individual ('the transferor') makes a disposal otherwise than by way of a bargain at arm's length to a person ('the transferee') of either:
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•ÌýÌýÌýÌý an asset, or an interest in an asset, used for the purposes of a trade, profession or vocation carried on by the transferor, their personal
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