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Where Taxpayers and Advisers Meet

cgt rollover relief

Herbs16
Posts: 72
Joined: Wed Aug 06, 2008 3:53 pm

cgt rollover relief

Postby Herbs16 » Mon Feb 24, 2020 3:14 pm

Hi Forum
Im looking to sell a site with planning for approx. £2-3m

It cost £150k 20 years ago.

I want to buy a farm (100 acres) with the proceeds

Can I roll over the gain as a result of re-investing all the proceeds? Any proportion not re-invested will trigger the proportional amount of gain to be chargeable?

we will run the farm as a working farm

Can that be done?
Thanks

billypiper
Posts: 27
Joined: Wed Aug 06, 2008 4:10 pm

Re: cgt rollover relief

Postby billypiper » Mon Feb 24, 2020 5:34 pm

Is the existing site a farm?

If not probably no

Herbs16
Posts: 72
Joined: Wed Aug 06, 2008 3:53 pm

Re: cgt rollover relief

Postby Herbs16 » Thu Feb 27, 2020 11:14 am

Hi, yes its a farm at present


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