44 Deferred entrepreneurs' relief on invested gains
Finance Act 2015 (2015 c 11) | Legislation

44  Deferred entrepreneurs' relief on invested gains

(1)     In Part 5 of TCGA 1992 (transfer of business assets) after Chapter 3 (entrepreneurs' relief) insert—

“Chapter 4
Entrepreneurs' Relief Where Held-Over Gains Become Chargeable

169T Overview of Chapter

This Chapter makes provision about claiming entrepreneurs' relief in certain cases where, in relation to held-over gains that originally arose on a business disposal, there is a chargeable event for the purposes of Schedule 5B or 8B (relief for gains invested under the enterprise investment scheme or in social enterprises).

169U Eligibility conditions for deferred entrepreneurs' relief

(1)     Section 169V applies if, ignoring the operation of section 169V(2)(b), each of the following conditions is met.

(2)     The first condition is that a chargeable gain (“the first eventual gain”) accrues as a result of the operation of—

paragraph 4 of Schedule 5B (enterprise investment scheme), or

paragraph 5 of Schedule 8B (investments in social enterprises).

(3)     If the first condition is met, the paragraph and Schedule mentioned in subsection (2) that apply in the case are referred to in this section, and section 169V, as “the relevant paragraph” and “the applicable Schedule”.

(4)     The second condition is—

(a)     that the first eventual gain

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