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Policy paper

Draft legislation (accessible version)

Published 23 June 2026

© Crown copyright 2026

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This publication is available at https://www.gov.uk/government/publications/capital-gains-tax-relief-on-gifts-of-business-assets/draft-legislation-accessible-version

1 Relief for gifts of business assets: shares

  1. (1) In Schedule 7 to TCGA 1992 (relief for gifts of business assets) in paragraph 7—
    1. (a) in sub-paragraph (2), for paragraph (b) substitute—
      1. “(b) an asset is a chargeable asset in relation to a company or group at any time if—
      2. (i) any gain accruing to the company or a member of the group on its disposal at that time would be a chargeable gain,
      3. (ii) any such gain would, but for Schedule 7AC (exemptions for disposals by companies with substantial shareholdings), be a chargeable gain, or
      4. (iii) any gain on its realisation by the company or a member of the group at that time would be a chargeable realisation gain.”, and
    2. (b) after that sub-paragraph insert—
      1. “(2A) For the purposes of sub-paragraph (2)(b)(iii), “realisation” and “chargeable realisation gain” have the meanings they have in Part 8 of CTA 2009 (intangible fixed assets).”
  2. (2) The amendments made by this section have effect in relation to disposals made on or after 6 April 2027.
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