Taxation of Chargeable Gains Act 1992 section 169SG

Elections under sections 169SC and 169SD

Section 169SG sets out the rules and time limits for making elections to crystallise gains under entrepreneurs' relief when a company ceases to be an individual's personal company, and for deferring those gains until a subsequent disposal.

• Elections under both section 169SC (to crystallise a deemed gain) and section 169SD (to defer that gain) are irrevocable once made
• A section 169SC election must be made by the first anniversary of the 31 January following the tax year in which the deemed disposal occurs
• A section 169SD deferral election must be made within four years after the end of the tax year of the deemed disposal
• Where both elections are made and no tax return is otherwise required, the individual can make both elections by written notice to HMRC within the section 169SC deadline