CGT - roll over

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    #1

    CGT - roll over

    Hello there, I am new to the site and looking through previous posts cannot find the answer to my question.

    I have just sold my commercial premises to my tenant of ten years and complete and the end of this month and I need advice as to the best way to invest the capital which acts as my pension. My question is that if I re invest the money in property again, would I be able to roll over the CGT into the new property despite not using it for a business other than to let it out.

    Hope you can help with thanks
    Tags: None
    #2
    This is HMRC's own advice:

    http://www.hmrc.gov.uk/manuals/CG4manual/cg60430.htm

    Here is an example showing that commercial premises that are rented out are not suitable assets for rolling over a gain.

    http://www.hmrc.gov.uk/manuals/CG4manual/cg60522.htm
    The contents of this note are neither advice nor a definitive answer. If you plan to rely on this, you should pay somebody for proper advice.

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