61 Effect of disincorporation relief
Finance Act 2013 (2013 c 29) | Legislation

61  Effect of disincorporation relief

(1)     In Part 5 of TCGA 1992 (transfer of business assets), in Chapter 1 (general provisions), after section 162A insert—

“Transfer of business from company to shareholders

162B Disincorporation relief: assets (including pre-FA 2002 goodwill)

(1)     This section applies where—

(a)     a company transfers its business to some or all of the shareholders of the company, and

(b)     a claim for disincorporation relief in respect of the transfer has been made under section 58 of the Finance Act 2013.

(2)     The disposal and acquisition of any qualifying asset of the business included in the transfer is to be deemed to be for a consideration equal to the lower of—

(a)     the sums allowable under section 38 as a deduction in the computation of the gain accruing to the company on the disposal of the asset in question, and

(b)     the

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