Earlier this year client sold property he had previously rented out.
This year he is establishing a new trading business which involves considerable outlay.
Can he claim roll over relief on the profit on the property against his new venture or is the sale of the property to be treated as a personnal asset and roll over relief denied.
The property had previously been a domestic rental on first floor and rented to an unincorporated business on the ground floor
Thanks
Brian
Replies (4)
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EIS CGT deferral relief
EIS Relief may be possible. It will depend on what the new venture is and it will have to be operated through a company with the proprietor investing in share capital
Doesn't sound like it...
The asset that is being sold and the replacement assets must be both be trading assets.
It doesn't sound like that applies here so you probably don't qualify.
tv
Apologies, duplicated question!
Would be grateful if you could answer on this thread - cheers!