Compensation: assets damaged/destroyed: replacement assets: time limits
TCGA92/S23 (4) imposes a time limit for the acquisition of the replacement asset. This is one year from the date of the receipt of the compensation or such further period as the Inspector may allow. Where the delay in acquiring the replacement asset can reasonably be regarded as unavoidable, then you can extend the replacement period to two years. You should not allow a longer extension without first consulting Capital Gains Technical Group.