49 Election to forego roll-over relief on transfer of business
Finance Act 2002 (2002 c 23) | Legislation

49  Election to forego roll-over relief on transfer of business

(1)     After section 162 of the Taxation of Chargeable Gains Act 1992 (c 12) (roll-over relief on transfer of business) insert—

“162´¡

Election for section 162 not to apply

(1)     Section 162 shall not apply where the transferor makes an election under this section.

(2)     An election under this section must be made by a notice given to an officer of the Board no later than the relevant date.

(3)     Except where subsection (4) below applies, the relevant date is the second anniversary of the 31st January next following the year of assessment in which the transfer of the business took place.

(4)

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