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Hold on! Gift relief in action

By Reshma Johar, March 2021

Reshma Johar looks at how holdover relief and potential restrictions can apply. 

This article follows on from my previous one (‘Relief is at hand’), which reviewed the circumstances when a claim can be made to defer a capital gains tax (CGT) liability from arising (under TCGA 1992, s 165), including a handy checklist.  

When considering holdover relief, it may be necessary to consider anti-avoidance provisions as well as whether the transaction falls within the employment related securities legislation. 

Case study 1: Transfer of a business asset 

Lisa and Tina are sisters who jointly run a tech company based in Manchester. Lisa has reduced her hours over the years and would like to give 25% of the shares to Tina. Lisa will be treated as making a disposal for CGT purposes, which will be

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