Section 39 | Incorporation relief: requirement to claim

(1)Section 162 of TCGA 1992 (roll-over relief on transfer of business) is amended as follows.

(2)In subsection (1)—

(a)the words from “a person who is not a company” to the end of the first sentence of the subsection become paragraph (a);

(b)after that paragraph insert

(b)the person makes a claim in respect of the transfer, including such information as the Commissioners may require, on or before the first anniversary of the 31 January following the tax year in which the transfer of the business took place.

(3)After subsection (5) insert—

(6)In this section, “the Commissioners” means the Commissioners for His Majesty’s Revenue and Customs.

(4)Omit section 162A of TCGA 1992 (election for section 162 not to apply).

(5)The amendments made by this section have effect in relation to transfers of businesses made on or after 6 April 2026.