Taxation of Chargeable Gains Act 1992 Schedule 6 paragraph 14

Aggregation of earlier business periods

Paragraph 14 of Schedule 6 deals with how earlier periods during which a business was carried on can be combined for the purposes of retirement relief calculations.

• Where a person has carried on a business during more than one earlier period, those periods may be aggregated to determine the total qualifying period for retirement relief purposes.
• This aggregation applies when there have been breaks in business ownership or activity, allowing non-continuous periods to be combined.
• The provision was relevant to calculating the extent of retirement relief available on the disposal of business assets, where the relief depended on the length of time the business had been carried on.
• This provision was repealed by the Finance Act 1998, which phased out retirement relief as part of broader tax reforms.