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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Liability to date of death: held-over gains and death

Examples are

Qualifying corporate bonds issued on qualifying share exchanges TCGA92/S116
Compensation gilt-edged stock  TCGA92/S134
Replacement of business assets with  depreciating assets TCGA92/S154
Replacement of compulsorily purchased land with depreciating land TCGA92/S248 (3)

Because the legislation in TCGA92/S62 (1)(b), see CG30330, says that for capital gains  purposes there is no disposal by the deceased on death, the transfer of assets occurring at  the date of death is not an event triggering the charge to recover the held-over gains.