hello Sir,
i just want to confirm if the qualifying asset eligible for roll over relief should be the same as asset disposed by a company that is an asset acquired by the company should be the one that is disposed of f by another company in capital gain group.please make it clear.
thank you
Ask the Tutor ACCA TX-UK
roll over relief
I think the issues that you are referring to here cover 2 main points:
1) For rollover relief to be available the sale proceeds of a qualifying business asset must be reinvested in purchasing another qualifying business asset or assets. The reinvestment may be in ANY category of qualifying business asset(s) , it does not have to be the same as the asset that has been sold.
2) In a 75% gains group, group rollover relief is available which allows a gain made by one group member to be rolled over against the cost of an asset acquired by a different gains group member
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