Roll-over relief: compulsory acquisition of land: depreciating assets
Where the new land is a depreciating asset, see CG60360, the guidance at CG60370+ should be followed with the following modifications.
- The words `new asset’ should be read as `new land’,
- the cessation of trade use of the new land is not a chargeable occasion in relation to the held-over gain.
The claim for relief on the acquisition of land that is a depreciating asset can be replaced by a new claim on the subsequent acquisition of land that is not a depreciating asset. The guidance at CG60370 sets out the conditions that must be met and explains the effect of such a claim.