Taxation of Chargeable Gains Act 1992

[F1 169M Relief to be claimed U.K.

(1) [F2 Business asset disposal relief] is to be given only on the making of a claim.

(2) A claim for [F2 business asset disposal relief] in respect of a qualifying business disposal must be made—

(a) in the case of a disposal of trust business assets, jointly by the trustees and the qualifying beneficiary, and

(b) otherwise, by the individual.

(3) A claim for [F2 business asset disposal relief] in respect of a qualifying business disposal must be made on or before the first anniversary of the 31 January following the tax year in which the qualifying business disposal is made.

(4) A claim for [F2 business asset disposal relief] in respect of a qualifying business disposal may only be made if the amount resulting under section 169N(1) is a positive amount.]

Textual Amendments

F1 Pt. 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)

F2 Words 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))

Modifications etc. (not altering text)

C1 S. 169M(2)(3) applied (with application in accordance with Sch. 3 para. 3(1) of the amending Act) by Finance Act 2020 (c. 14), Sch. 3 para. 3(5)