SCHEDULE 3 Entrepreneurs' Relief
Finance Act 2008 (2008 c 9) | Legislation

SCHEDULE 3 Entrepreneurs' Relief

Section 9

Introduction

1

TCGA 1992 is amended as follows.

Main provisions

2

In Part 5 (transfer of business assets), after section 169G insert—

“Chapter 3
Entrepreneurs' Relief
169±áÌý±õ²Ô³Ù°ù´Ç»å³Ü³¦³Ù¾±´Ç²Ô

(1)     This Chapter provides relief from capital gains tax in respect of qualifying business disposals (to be known as “entrepreneurs' reliefâ€).

(2)     The following are qualifying business disposals—

(a)     a material disposal of business assets: see section 169I,

(b)     a disposal of trust business assets: see section 169J, and

(c)     a disposal associated with a relevant material disposal: see section 169K.

(3)     But in the case of certain qualifying business disposals, entrepreneurs' relief is given only in respect of disposals of relevant business assets comprised in the qualifying business disposal: see section 169L.

(4)     Section 169M makes provision requiring the making of a claim for entrepreneurs' relief.

(5)     Sections 169N to 169P make provision as to the amount of entrepreneurs' relief.

(6)     Section 169Q and 169R make provision about reorganisations.

(7)     Section 169S contains interpretative provisions for the purposes of this Chapter.

169I Material disposal of business assets

(1)     There is a material disposal of business assets where—

(a)     an individual

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