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Section 157: Trade carried on by family company: business assets dealt with by individual.

Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk

Part V: Transfer of business assets, business asset disposal relief and investors' relief — Chapter I: Transfer of business assets: General provisions

In relation to a case where—

the person disposing of, or of his interest in, the old assets and acquiring the new assets, or an interest in them, is an individual, and
the trade or trades in question are carried on not by that individual but by a company which, both at the time of the disposal and at the time of the acquisition referred to in paragraph (a) above, is his personal company, that is to say, a company the voting rights in which are exercisable, as to not less than 5 per cent., by him,

any reference in sections 152 to 156 to the person carrying on the trade (or the 2 or more trades) includes a reference to that individual.

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.