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HMRC internal manual

Capital Gains Manual

Gifts: non-business assets: restricting relief


You restrict the relief by reference to the ratio of the market value of the company’s (or group’s) chargeable business assets to the market value of all its chargeable assets. This restriction is applied if at any time during the period of 12 months before the transfer

  • the donor could exercise not less than 25 per cent of the voting rights in the trading company or holding company of the trading group


  • where the donor is an individual, at any time within that 12 month period the company was their personal company, see CG64050, or if the disposal was before 13 March 1993, family company.