Statement of Practice D6
Published 31 March 1978
© Crown copyright 1978
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Where new town corporations and similar authorities acquire by compulsory purchase land for development and then immediately grant a previous owner a lease of the land until they are ready to commence building, the Commissioners for HM Revenue and Customs (HMRC) will be prepared to extend the time limit for rollover relief under TCGA 1992 ss 152–158 to 3 years after the land ceases to be used by the previous owner for his trade, provided that there is a clear continuing intention that the sale proceeds will be used to acquire qualifying assets, assurances will be given in appropriate cases subject to the need to raise a protective assessment if the lease extends beyond the statutory 6 year time limit for making assessments.
This practice may be applied to all cases where the Capital Gains Tax computations have not been settled at 17 January 1973.
HMRC Manuals
Capital gains manual CG 60660 to 60665 (operation of this Statement).
Cross references
See TCGA 1992 ss 247, 248 (rollover relief in compulsory acquisition).