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Roll over relief and Entrepreneur's relief

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Roll over relief and Entrepreneur's relief

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by aamir2111.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • June 12, 2017 at 1:49 pm #392850
    aamir2111
    Participant
    • Topics: 123
    • Replies: 85
    • ☆☆☆

    Dear Tutor,

    I understand that an Entrepreneur’s relief is available on disposal of part or the entire business whereas rollover relief will be on disposal of individual asset. Hence, the Entrepreneur’s relief would normally not be available when the rollover/ holdover is claimed as it pertains to an individual asset.
    However, if the entire business is sold then we will have Entrepreneur’s relief available on the gain other than that on which Rollover or holdover relief has been claimed.
    But what happens in case of sell of the part of business i.e. will we have Entrepreneur’s relief as above if we have claimed rollover or holdover relief?

    June 13, 2017 at 6:41 pm #393030
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    If a claim for rollover relief is available (a qualifying purchase must have been made) then the taxpayer must decide whether it is better to claim to defer that gain or to pay the tax on that gain now at the 10% ER rate

    June 13, 2017 at 8:44 pm #393054
    aamir2111
    Participant
    • Topics: 123
    • Replies: 85
    • ☆☆☆

    Thanks

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