Taxation of Chargeable Gains Act 1992 section 162C

Disincorporation relief: post-FA 2002 goodwill

Section 162C sets the base cost of goodwill acquired by shareholders when a company transfers its business to them under disincorporation relief, specifically where the goodwill is "post-FA 2002" goodwill subject to the intangible fixed assets regime.

• Applies where a company transfers its business to some or all of its shareholders and a disincorporation relief claim has been made
• Covers goodwill that falls within the corporation tax intangible fixed assets regime (post-Finance Act 2002 goodwill)
• The shareholders' base cost for the goodwill is set equal to the transfer value determined under section 849A of the Corporation Tax Act 2009
• Effective for business transfers with a transfer date of 1 April 2013 or later