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Roll Over relief on Property Letting

Roll Over relief on Property Letting

Client purchased a property in June 2000 and after refurbishment sold in Nov 2006. Intention was to rent out and buy more properties. Property was never rented out but sold to finance purchase of further property. Client assumed no Capital Gains due to roll over relief. . HMRC now calculating Capital Gain and dismissing rollover relief quoting TCGA92/S152. Question being asked is intention to trade sufficient for elligability for roll over relief or even is roll over relief available on rental properties.  


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21st Aug 2012 17:31


Either way you fail.

If property investment, then it is not held for trading purposes.

If held for trading purposes then it is trading stock, not a capital asset and so rollover relief does not enter into the equation at all.

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By stevet
28th Aug 2012 10:51

My thoughts exactly

Thanks for quick reply.

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