Gifts: hold-over relief: valuations: cases excluded from SP8 92
SP8/92 cannot apply where there is a chargeable gain, the amount of which depends on avaluation being made. In particular, this means that if a disposal falls within any ofTCGA92/SCH7/PARA5, TCGA92/SCH7/PARA6, or TCGA92/SCH7/PARA7 each of which restricts reliefunder TCGA92/S165, SP8/92 does not apply.
Paragraph 5 is concerned with the situation where the asset has not been used for businesspurposes throughout the period of ownership. See CG66951.
Paragraph 6 is concerned with the situation where the asset is a building which has notbeen wholly used for business purposes, for example where a flat over the claimant’s shophas been let to a tenant.
Paragraph 7 is concerned with the situation where the asset is a shareholding in theclaimant’s personal company, and the company has non-business assets, see CG66970+.