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HMRC internal manual

Capital Gains Manual

Roll-over relief: time limit for re-investment: Board's discretion

TCGA92/S152 (3)

In some circumstances, the Board’s statutory authority to extend the time limit has been delegated. The relevant Grade 7 technician may allow an extension:

  • in the case of land disposed of under a compulsory purchase order or under threat of such an order, provided the conditions set out at CG60660+ are satisfied;


  • where the new asset was acquired not more than three years before or six years after the disposal of the old asset and there are acceptable reasons for the delay.
    If the new asset was acquired outside of the period noted above, the extension request must instead be considered by Capital Gains Technical on behalf of the Commissioners.

As an example, where the acquisition preceded the disposal, acceptable reasons might include:

  • the threat of compulsory acquisition of the old asset;
  • difficulty in disposing of the old asset;
  • the acquisition of land with the intention of erecting a building on it;
  • the need to have new premises functioning before the old premises can be vacated.

An extension of the time limit in Section 152 (3) is permitted where the claimant can demonstrate that

  • they had a firm intention to acquire replacement assets within the time limit


  • they were prevented by some fact or circumstance beyond their control from acquiring the replacement assets, or any assets, within the time limit


  • acted as soon as they reasonably could after ceasing to be so prevented.

It is a question of fact and degree and each case is considered on its own merits. Examples of circumstances outside the claimant’s control might include death or serious illness of a vital party at a crucial time, unsettled disputes or litigation, genuine difficulty in establishing good title or in finding suitable replacement assets or delay in receipt of disposal consideration.

A mere change of intention at a late stage or a shortage of funds arising out of application of disposal consideration to some purpose other than the acquisition of new qualifying assets will not normally be regarded as circumstances beyond the claimant’s control.

Board’s discretion

AUTHORITY TO REFUSE TO EXTEND THE TIME LIMITS HAS NOT BEEN DELEGATED. In all cases, the facts should be obtained and a judgement should be formed on whether the requested extension should be allowed (considering the acceptable reasons test as laid out above). In cases outside the authority of the relevant Grade 7 technician, a report should be made to Capital Gains Technical Group with the recommendation of the relevant Grade 7 technician and the claimant’s file. Before the report is made the criteria for extension should be explained to the claimant so that they can demonstrate their case.

However, no decision on a possible extension of the time limit can be made until the old asset has been disposed of, the new asset has been acquired and all other conditions of relief are satisfied. A broad outline of the Board’s general policy on applications to extend the time limit may be given. It may also be helpful to draw attention to ESC/D24. BUT, YOU SHOULD MAKE IT CLEAR THAT THE STATEMENT IS NOT IN ANY WAY A COMMITMENT TO GRANT AN EXTENSION IN A PARTICULAR CASE