I have a client (Limited Company) that is selling their business premises and are looking to rollover the capital gain. The question is, are they able to rollover the gain against future improvements to an existing rental property that also sits in the same limited company or alternatively would they be able to rollover the gain against the purchase of an additional rental property through the same limited company. Any assistance would be greatly appreciated.
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I don't blame you. It's a woefully inadequate document.
However, s152 (which does apply to companies - I don't quite get DJKL's point) makes it clear the business needs to be a trade. So the answer to your question is no.
I don't blame you. It's a woefully inadequate document.
However, s152 (which does apply to companies - I don't quite get DJKL's point) makes it clear the business needs to be a trade. So the answer to your question is no.
Senility setting in and not having to deal with for over 20 years.