Finance Act 2020 (c. 14)

SCHEDULES

SCHEDULE 3 U.K. Entrepreneurs' relief

PART 2 U.K. Re-naming the relief

7 (1) In section 169H(1) of TCGA 1992 (relief under Chapter 3 of Part 5: introduction), for “to be known as “entrepreneurs' relief”” substitute “ to be known as “business asset disposal relief” ”. U.K.

(2) In consequence of that amendment—

(a) in the rest of TCGA 1992, for “entrepreneurs' relief”, wherever occurring, substitute “ business asset disposal relief ”;

(b) in section 169V of TCGA 1992 (operation of deferred entrepreneurs' relief), for “ER purposes”, wherever occurring, substitute “ relevant purposes ”.

(3) Nothing in this paragraph affects the operation of Chapter 3 of Part 5 of TCGA 1992.

8 U.K. This Part of this Schedule has effect for the tax year 2020-21 and subsequent tax years.