84 Entrepreneurs' relief: associated disposals
Finance Act 2016 (2016 c 24) | Legislation

Entrepreneurs' Relief

84  Entrepreneurs' relief: associated disposals

(1)     Section 169K of TCGA 1992 (disposal associated with relevant material disposal) is amended as follows.

(2)     In subsection (1)—

(a)     in paragraph (a), after “A1,” insert “A1A,”, and

(b)     in paragraph (b), for “and C” substitute “, C and D”.

(3)     After subsection (1A) insert—

“(1AA)     Condition A1A is that P makes a material disposal of business assets which consists of the disposal of the whole of P's interest in the assets of a partnership, and—

(a)     that interest is an interest of less than 5%,

(b)     P holds at least a 5% interest in the partnership's assets throughout a continuous period of at least 3 years in the 8 years ending with the date of the disposal, and

(c)     at the date of the disposal, no partnership purchase arrangements exist.

(1AB)

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