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HMRC internal manual

Capital Gains Manual

Land: exchange of joint interests: milk and potato quota

Relief under ESC/D26 is also available for exchanges of joint interests in milk or potato quota where: -

  1. interests in land are exchanged , and
  2. ESC/D26 applies to that exchange, and
  3. there is a parallel exchange of interests in milk or potato quota associated with that land, and
  4. after the exchange, each former joint owner becomes sole owner of the part of the quota which relates to the land now held as sole owner.