Commentary

C2.1104 Rollover relief for exchanges of joint interests in land

Capital gains tax
Capital gains tax | Commentary

C2.1104 Rollover relief for exchanges of joint interests in land

Capital gains tax | Commentary

C2.1104 Rollover relief for exchanges of joint interests in land

With effect from 6 April 2010, a form of rollover relief is available for certain exchanges of joint interests in land1. Relief was previously given by concession (see below).

Relief is available, where a claim is made, if:

  1.  

    •     a 'holding of land' or two or more separate holdings of land are jointly held by a person (the 'landowner') and one or more other persons

  2.  

    •     the landowner disposes of an interest in the holding or one or more of the holdings to one or more of the co-owners

  3.  

    •     the consideration for the disposal is or includes an interest in a holding of land held jointly by the landowner and the co-owners concerned

  4.  

    •     as a result of the exchange, the landowner and each of the co-owners become the sole owner of part of the holding or of one or more of the holdings, and

  5.  

    •     the interest

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