[169I Material disposal of business assets]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[169I  Material disposal of business assets]

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

(a)     an individual makes a disposal of business assets (see subsection (2)), and

(b)     the disposal of business assets is a material disposal (see subsections (3) to (7)).

(2)     For the purposes of this Chapter a disposal of business assets is—

(a)     a disposal of the whole or part of a business,

(b)     a disposal of (or of interests in) one or more assets in use, at the time at which a business ceases to be carried on, for the purposes of the business, or

(c)     a disposal of one or more assets consisting of (or of interests in) shares in or securities of a company.

(3)     A disposal within paragraph (a) of subsection (2) is a material disposal if the business is owned by the individual throughout the period of [2 years] ending with the date of the disposal.

(4)     A disposal within paragraph (b) of that subsection is a material disposal if—

(a)     the business is owned by the individual throughout the period of [2 years] ending with the date on which the business ceases to be carried on, and

(b)

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