Taxation of Chargeable Gains Act 1992 section 255A

Hold-over relief for gains re-invested in social enterprises

Section 255A introduces the rules allowing capital gains tax relief where gains are re-invested in qualifying social enterprises.

• This section was introduced by the Finance Act 2014 and took effect from 17 July 2014.
• It gives legal effect to Schedule 8B of the Taxation of Chargeable Gains Act 1992.
• Schedule 8B provides hold-over relief where a chargeable gain is re-invested into a qualifying social enterprise.
• The relief allows the gain to be deferred rather than being charged to capital gains tax at the time of the original disposal.