Section 169H IntroductionF1

United Kingdom

(1)

This Chapter provides F2for a lower rate of capital gains tax in respect of qualifying business disposals (F3to be known as “business asset disposal relief”).

(2)

The following are qualifying business disposals—

(a)

a material disposal of business assets: see section 169I,

(b)

a disposal of trust business assets: see section 169J, and

(c)

a disposal associated with a relevant material disposal: see section 169K.

(3)

But in the case of certain qualifying business disposals, F4business asset disposal relief is given only in respect of disposals of relevant business assets comprised in the qualifying business disposal: see F5sections 169L and 169LA.

(4)

Section 169M makes provision requiring the making of a claim for business asset disposal relief.

(5)

Sections 169N to 169P make provision as to the amount of business asset disposal relief.

(6)

Sections 169Q and 169R make provision about reorganisations.

(7)

F6Sections 169S and 169SA contain interpretative provisions for the purposes of this Chapter.

Annotations

Textual amendments

F1: Pt. 5 Ch. 3 inserted (with effect in accordance with Sch. 3 para. 5 of the amending Act) by Finance Act 2008 (c. 9), Sch. 3 para. 2 (with Sch. 3 paras. 6-8)
F2: Words in s. 169H(1) substituted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance (No. 2) Act 2010 (c. 31), Sch. 1 para. 4
F3: Words in s. 169H(1) substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(1), 8 (with Sch. 3 para. 7(3))
F4: Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))
F5: Words in s. 169H(3) substituted (with effect in accordance with s. 42(5) of the amending Act) by Finance Act 2015 (c. 11), s. 42(2)
F6: Words in s. 169H(7) substituted (with effect in accordance with Sch. 13 para. 6(1) of the amending Act) by Finance Act 2016 (c. 24), Sch. 13 para. 2

Notes on Part V

Textual amendments

F1: Words in Pt. 5 heading inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 14 para. 1(1)