Statement of Practice 5 (1986)
Published 21 August 1986
© Crown copyright 1986
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Relief which is available to a person carrying on a trade under TCGA 1992 ss 152 to 156 is extended by TCGA 1992 s 158 (1)(c) to include employees and office-holders.
If land or buildings are owned by an employee etc, but made available to the employer for general use in his trade, the employee etc may nonetheless satisfy the occupation test of TCGA 1992 s 155 provided the employer does not make any payment (or give other consideration) for his use of the property nor otherwise occupy it under a lease or tenancy.
The qualifying use of assets by an employee etc for the purposes of TCGA 1992 ss 152 and 153 will include any use or occupation of those assets by him, in the course of performing the duties of his employment or office, as directed by the employer.
This practice may be applied to all cases where the Capital Gains Tax computations have not been settled at 21 August 1986.