Capital gains tax reliefs

Question 1

When should the new asset been bought after disposal for rollover relief

Answer 1

12 months before and 36 months after disposal

Question 2

What type of asset is rollover relief not eligible for?

Answer 2

moveable plant and machinery

Question 3

Eligible assets for rollover relief

Answer 3

Land and buildings occupied for only purpose of trade, fixed asset (immoveable), goodwill

Question 4

Non-depreciating

Answer 4

gain deducted from base cost of the new asset

Question 5

depreciating

Answer 5

gain deferred until it crystallised

Question 6

Rollover relief working

Answer 6

Disposal proceeds - cost of second factory = rollover relief deducted from gain of initial asset