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Section 162B: Disincorporation relief: assets (including pre-FA 2002 goodwill)

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

This section applies where—

a company transfers its business to some or all of the shareholders of the company, and
a claim for disincorporation relief in respect of the transfer has been made under section 58 of the Finance Act 2013.

The disposal and acquisition of any qualifying asset of the business included in the transfer is to be deemed to be for a consideration equal to the lower of—

the sums allowable under section 38 as a deduction in the computation of the gain accruing to the company on the disposal of the asset in question, and
the market value of the asset.

In subsection (2) a "qualifying asset" means—

goodwill, or
an interest in land which is not held as trading stock.

But subsection (2) does not apply to the goodwill of the business if section 162C applies to it.

About this text

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.