CG64075 - Business Asset Disposal Relief: trading company and holding company of a trading group - meaning of "as soon as is reasonably practicable in the circumstances"
Entrepreneurs바카라 사이트™ Relief was renamed in Finance Act 2020 with effect from 6 April 2020. The new name is generally used in this guidance but should be read as applying to times before that date.
TCGA92/S165A (5) and TCGA92/S165A (10)
Rather than impose a fixed time limit, the statute allows companies and groups whatever time is reasonable, having regard to the particular circumstances, to prepare to carry on a new trade or to acquire a trade or trading company.
What is 바카라 사이트śreasonably practicable in the circumstances바카라 사이트ť will depend on the facts in each case. For example, a company may be in negotiations to acquire a trading company but owing to circumstances beyond its control the purchase is delayed. There might be, for example, a problem with the vendor proving title to the company바카라 사이트™s assets. Where this was the reason for the delay we would not suggest that the acquisition had not been made as soon as was reasonably practicable in the circumstances.