Q. My client is looking to gift shares in their unlisted company to their daughter. The company is mostly trading but does hold an investment property that is let out. Can they claim holdover relief on the gift and are there any restrictions we need to be aware of?

All legislation in this article refers to Taxation on Chargeable Gains Act 1992 (TCGA 1992).

A joint claim for holdover relief can be made by a transferor and transferee where an individual makes a gift of business assets. Unlisted shares in a trading company are qualifying assets under section 165 TCGA 1992.