Roll-over relief: how to make a claim
One of the conditions for roll-over relief is that the consideration received from the disposal of qualifying assets has been applied in the acquisition of new qualifying assets. Therefore, a claim cannot be made until the new assets have been acquired. Provisional roll-over relief may, however, be obtained in advance of acquisition of the new assets under separate rules, see CG60609.
The Board have exercised their power to determine the form in which a claim to roll-over relief must be made. Any claim made must be made in writing and must identify
- the claimant
- the assets which have been disposed of
- the date of disposal of each of those assets
- the consideration received for the disposal of each of those assets
- the assets which have been acquired
- the dates 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
- the consideration given for each of those assets and
- the amount of the consideration received for the disposal of each of the specified assets that has been applied in the acquisition of each replacement asset.
If you receive an indication that a claim to roll-over relief is intended but the claim is not in the proper form, you should write to the taxpayer setting out the information which is needed to put the claim in the proper form and you may wish to refer the customer to Help Sheet 290, available on the HMRC website , which provides a useful template for the submission of claim to roll-over relief.