Capital gains tax gift relief

For the gift of business assets I know the person gifting the assets needs to have used them in a qualifying trade but does the recipient need to use them for business purposes for capital gains tax gift relief to apply?

Hi,

Hold-Over relief is typically used for the succession planning for business.

CG66880 - Reliefs: Gifts and Capital Gains Tax: Relief for Gifts of Business Assets

The conditions for a transferee for Hold-Over relief can be found in HS295 Capital Gains Tax relief on gifts and similar transactions where generally the condition only states the transferee needs to be UK resident.

HS295 Relief for gifts and similar transactions (2022)

Further conditions can be found here:

CG66883 - Relief for Gifts of Business Assets: The Donee

Thank you.