Rollover relief and gift relief

Rollover relief and gift relief

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Husband and wife own a business asset - cost £900k. They rolled over a gain of £900k into the asset in 2000. Asset current value £1.4m. Can they gift the asset to their sons, utilising gift relief, without the gain crystallizing on them. ie the sons would take on the asset at £nil base cost?
Thanks
Andrew

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