Textual Amendments
F1Words in Pt. 5 heading inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 14 para. 1(1)
F2Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))
Textual Amendments
F3Pt. 5 Ch. 3 inserted (with effect in accordance with Sch. 3 para. 5 of the amending Act) by Finance Act 2008 (c. 9), Sch. 3 para. 2 (with Sch. 3 paras. 6-8)
(1)This Chapter provides [F4for a lower rate of capital gains tax] in respect of qualifying business disposals ([F5to be known as “business asset disposal relief”]).
(2)The following are qualifying business disposals—
(a)a material disposal of business assets: see section 169I,
(b)a disposal of trust business assets: see section 169J, and
(c)a disposal associated with a relevant material disposal: see section 169K.
(3)But in the case of certain qualifying business disposals, [F2business asset disposal relief] is given only in respect of disposals of relevant business assets comprised in the qualifying business disposal: see [F6sections 169L and 169LA].
(4)Section 169M makes provision requiring the making of a claim for [F2business asset disposal relief].
(5)Sections 169N to 169P make provision as to the amount of [F2business asset disposal relief].
(6)Sections 169Q and 169R make provision about reorganisations.
(7)[F7Sections 169S and 169SA contain] interpretative provisions for the purposes of this Chapter.]
Textual Amendments
F4Words in s. 169H(1) substituted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance (No. 2) Act 2010 (c. 31), Sch. 1 para. 4
F5Words in s. 169H(1) substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(1), 8 (with Sch. 3 para. 7(3))
F6Words in s. 169H(3) substituted (with effect in accordance with s. 42(5) of the amending Act) by Finance Act 2015 (c. 11), s. 42(2)
F7Words in s. 169H(7) substituted (with effect in accordance with Sch. 13 para. 6(1) of the amending Act) by Finance Act 2016 (c. 24), Sch. 13 para. 2