Gift Hold-Over Relief is effectively a deferral of Capital Gains Tax (CGT) when assets are given away (including certain shares) or sold for less than they’re worth to help the buyer. The relief means that any gain on the asset is 'Held-Over' until the recipient of the gift sells or disposes of them.
The person gifting a qualifying asset is not subject to CGT on the gift. However, CGT may be payable where the asset is sold for less than it’s worth. Gifts between spouses and civil partners don’t trigger capital gains. A claim for the relief must be made jointly with the person to whom the gift was made.
If you are giving away business assets then you must:
You can usually get partial relief if you used the assets only partly for your business.
If you are giving away shares, then the shares must be in a company that's either:
The company's main activities must be in trading, for example providing goods or services, rather than non-trading activities like investment.