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Section 162: Roll-over relief on transfer of business.

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

The amount determined under subsection (4) below shall be deducted from the aggregate of the chargeable gains less allowable losses ("the amount of the gain on the old assets").

For the purpose of computing any chargeable gain accruing on the disposal of any new asset—

the amount determined under subsection (4) below shall be apportioned between the new assets as a whole, and
the sums allowable as a deduction under section 38(1)(a) shall be reduced by the amount apportioned to the new asset under paragraph (a) above;

and if the shares which comprise the new assets are not all of the same class, the apportionment between the shares under paragraph (a) above shall be in accordance with their market values at the time they were acquired by the transferor.

The amount referred to in subsections (2) and (3)(a) above shall not exceed the cost of the new assets but, subject to that, it shall be the fraction—

References in this section to the business, in relation to shares or consideration received in exchange for the business, include references to such assets of the business as are referred to in subsection (l) above.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

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