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HMRC internal manual

Capital Gains Manual

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HM Revenue & Customs
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National heritage: Capital Gains Tax reliefs

There are a number of CGT reliefs. TCGA92/S258 gives three types of relief:

  • No gain/no loss treatment on a gift of an asset, or if a person becomes absolutely entitled to an asset as against the trustee, and the appropriate undertaking is given, TCGA92/S258(3). See CG73320.
  • Exemption on the disposal of an asset to a particular type of body, TCGA92/S258(2)(a). See CG73330.
  • Exemption on the disposal of an asset to HMRC in lieu of Inheritance Tax or Estate Duty, TCGA92/S258(2)(b). See CG73335.

See CG73310 for guidance on the assets that qualify for relief under section 258.

All claims to relief under TCGA92/S258 should be referred to Specialist PT - IHT - Heritage Team:

Heritage Team
Ferrers House
PO Box 38
Castle Meadow road
Nottingham
NG2 1BB

Email: Mailpoint F, - (Specialist PT Trusts & Estates) 

Other reliefs are:

Holdover relief under TCGA92/S260(2). See CG73400.

No gain/no loss treatment if an asset is gifted or sold at a loss and undervalue to a charity or body within Schedule 3 IHTA 1984, TCGA92/S257. See CG67515.