Commentary

I3.615 Retirement relief, business asset disposal relief and rollover relief

IHT, trusts and estates

I3.615 Retirement relief, business asset disposal relief and rollover relief

I3.615 Retirement relief, business asset disposal relief and rollover relief

Retirement relief was and rollover relief is a CGT relief available on certain disposals of business assets and which may be or have been available on gifts of such assets.

Retirement relief was phased out from 6 April 1999 and ceased to be available after 5 April 2003, in connection with the introduction of taper relief. In connection with the abolition of taper relief with effect from 6 April 2008, much of the retirement relief legislation has made a comeback as part of the business asset disposal relief (formerly entrepreneurs' relief) legislation.

Retirement relief1 was, broadly speaking, available in respect of chargeable gains accruing to an individual who had attained the age of 50 (not necessarily retired) or retired under that age due to ill-health and who disposed of the whole or part of his business or its assets, or shares or securities in his personal company. The relief could also be available on the disposal of assets owned by an individual for the purposes of his employment. The amount of relief varied according

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