Roelich: What is a ‘Business’ for CGT Incorporation Relief Purposes?

    July 2014
    When an individual transfers to a company a business as a going concern, together with the whole of the assets of the business (other than cash), in exchange for shares issued by the company, TCGA 1992 s 162 applies to roll any inherent capital gains on the business assets into the shares. A key issue here is that the activity which is transferred to the company in exchange for the shares must be a business.