http://www.legislation.gov.uk/ukpga/2013/29/section/61Finance Act 2013An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.texttext/xmlenStatute Law Database2026-04-21Expert Participation2026-04-01 Finance Act 2013s. 130(5)(aa)Planning (Consequential Provisions) (Wales) Act 2026Deddf Cynllunio (Darpariaethau Canlyniadol) (Cymru) 2026Sch. 2 para. 415(b)Sch. 5 Pt. 1s. 5(2) PART 1 CHAPTER 5611In Part 5 of TCGA 1992 (transfer of business assets), in Chapter 1 (general provisions), after section 162A insert—162B1This section applies where—aa company transfers its business to some or all of the shareholders of the company, andba claim for disincorporation relief in respect of the transfer has been made under section 58 of the Finance Act 2013.2The disposal and acquisition of any qualifying asset of the business included in the transfer is to be deemed to be for a consideration equal to the lower of—athe sums allowable under section 38 as a deduction in the computation of the gain accruing to the company on the disposal of the asset in question, andbthe market value of the asset.3In subsection (2) a “qualifying asset” means—agoodwill, orban interest in land which is not held as trading stock.4But subsection (2) does not apply to the goodwill of the business if section 162C applies to it.162C1This section applies where—aa company transfers its business to some or all of the shareholders of the company,ba claim for disincorporation relief in respect of the transfer has been made under section 58 of the Finance Act 2013, andcsection 849A of CTA 2009 (disincorporation relief: transfer values for post-FA 2002 goodwill) applies to the transfer of the goodwill of the business.2The acquisition of the goodwill of the business is deemed to be for a consideration equal to the value at which the goodwill is treated as transferred by virtue of section 849A of CTA 2009.2In Part 8 of CTA 2009 (intangible fixed assets), Chapter 13 (transactions between related parties) is amended as follows.3In section 844 (overview of Chapter), in subsection (2) for “849” substitute “ 849A ”.4In section 845 (transfer between company and related party treated as at market value), in subsection (4) (exceptions to basic rule)—aomit the “and” at the end of paragraph (ca), andbafter paragraph (d) insert, and esection 849A (disincorporation relief: transfer values for post-FA 2002 goodwill).5After section 849 insert—849A1This section applies where—aa company transfers its business to some or all of the shareholders of the company, andba claim for disincorporation relief in respect of the transfer has been made under section 58 of the Finance Act 2013.2If section 735 applies to the transfer of the goodwill of the business, the transfer is treated for the purposes of this Part as being at the lower of—athe tax written-down value of the goodwill, andbits market value.3If section 736 applies to the transfer of the goodwill of the business, the transfer is treated for the purposes of this Part as being at the lower of—athe cost of the goodwill, andbits market value.4If section 738 applies to the transfer of the goodwill of the business, the proceeds of realisation of the goodwill are treated for the purposes of this Part as being nil.5In subsection (2)(a) the reference to the tax written-down value of the goodwill is to its tax written-down value immediately before the transfer.6In subsection (3)(a) “the cost of the goodwill” means the cost recognised for tax purposes (determined in accordance with section 736(6) and (7)).7In this section market value has the meaning given in section 845(5).6The amendments made by this section have effect in relation to a transfer of a business with a business transfer date of 1 April 2013 or a later date.