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HMRC internal manual

Capital Gains Manual

Gifts: hold-over relief: valuations: procedure

It is open to the donor and donee to take advantage of the Statement of Practice. If you are dealing with a claim to hold-over relief and you are told that both parties wish to use the Statement of Practice, then:

  • You should not insist on a computation of the held-over gain as long as the asset is properly identified and the formalities of the hold-over relief claim are satisfied, see CG66914 and CG67033. To ask for a computation would defeat the object of the Statement of Practice.
  • Claims must be made on the form HS295 which can be found within Help Sheet 295. The form must be fully completed.