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Introduction

TCGA92/S239

TCGA92/S239 provides relief from Capital Gains Tax if an individual or close company transfers an asset to certain employee trusts that qualify for favourable Inheritance Tax treatment.

The gain is either reduced or calculated on a no gain/no loss basis. Section 239 applies automatically where the conditions are met. It is not a relief that has to be claimed. It therefore applies in priority to gifts hold-over relief because it affects the basic computation.

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