Taxation of Chargeable Gains Act 1992 section 169L

Relevant business assets

Section 169L defines which assets qualify as "relevant business assets" for the purposes of business asset disposal relief, ensuring that relief only applies to genuine business assets rather than investments or shareholdings.

• Where a qualifying business disposal does not involve shares or securities of a company, business asset disposal relief is only available on the disposal of "relevant business assets"
• Relevant business assets are assets (including goodwill, subject to certain restrictions) that are used for the purposes of the business by reference to which the relief is claimed
• The definition covers assets used in a business carried on by the individual, a partnership of which they are a member, a qualifying trust beneficiary, or the partnership or company concerned in an associated disposal
• Shares, securities, and any other assets held as investments are "excluded assets" and do not qualify as relevant business assets