Commentary

C3.311A Rollover relief—claims for full or provisional relief

Capital gains tax
Capital gains tax | Commentary

C3.311A Rollover relief—claims for full or provisional relief

Capital gains tax | Commentary

C3.311A Rollover relief—claims for full or provisional relief

There are no special provisions regarding the time limits for making a claim for rollover relief, so the general provisions apply1. For persons liable to capital gains tax, the claim may be made at any time within four years from the end of the year of assessment to which it relates. For companies, the claim may be made within four years from the end of the accounting period to which it relates. The time limit begins with the later of:

  1.  

    •     the end of the tax year or accounting period in which the disposal takes place, or

  2.  

    •     the end of the tax year or accounting period in which the replacement assets are acquired

A claim to relief is not prevented by the finality of an assessment on chargeable gains2.

The claim must specify3:

  1.  

    •     the identity of the claimant

  2.  

    •     the assets which have been disposed of

  3.  

    •     the date of disposal of each of those assets

  4.  

    •     the consideration received for the disposal of each of those assets

  5.  

    •     the assets which have been acquired

  6.  

    •     the date of acquisition of each of those assets or the dates on which unconditional contracts for the acquisition of each of those assets were entered into

  7.  

    •     the consideration given for

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