CGT is not immediately payable every time a business asset is realised at a profit. If a new business asset is acquired, replacement of business assets relief may be available1. Under this relief, any gain on the old asset is deducted from the acquisition cost of the new asset ('rolled over' into the new asset), and thus deferred until the sale of the new asset (when further replacement relief may be available)2. The new asset must be purchased within the period beginning one year before and ending three years after the disposal of the old asset3, and upon acquisition
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