roll over relief just missed 3 years HELP!

roll over relief just missed 3 years HELP!

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A director of a company owned one shop/unit for two of his ltd co.s this was sold just over 3 years ago and he personally paid capital gains.  He has now just signed the contracts on a property (which the companies have been renting since the dale of the last), agian it is in his name personally.  What are our chances of getting roll over relief?? has any one else been able to appeal for it??  we are thinking on the grounds that the banks have held it up as they have made us jump through rings to raise the finance.

thanks for any help

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By cathygrimmer
05th Jul 2011 09:58

Worth a try

See here re discretion to extend the time limit:

http://www.hmrc.gov.uk/manuals/cgmanual/CG60640.htm

Cathy

[email protected]

 

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By ChrisDL
05th Jul 2011 11:21

Might be able to, if you can prove the reason

I have done this before, but the client had particular circumstances which prevented the reinvestment from taking place (a very specific planning problem). There was a very clear paper trail so it was no more than sending all the paperwork in.

I'd definitely have a go - there's no harm in asking!

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By cathygrimmer
05th Jul 2011 12:43

Exactly!

My thoughts entirely, Chris. My motto is

'If you don't ask, the answer is always "No"!'

Cathy

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By sarahtaylor2018
05th Jul 2011 16:16

thank you both for you answers very much appriciated.  The reasons for the delay has been the banks no wanting to loan the extra finance.

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