Rollover Relief

[Brsln2]

Hi

Here is a case;

Paul personally owned and lived in his property most of its ownership period then moved to Scotland and let out the property and then sold it. Because of the let out period he has to pay capital gains tax.

But soon after he bought a buy to let property from the proceeds of the sale.

The question is "is he entitled to rollover tax relief?"

Many Thanks for your help.

Baz

 

[StevensOnln1]

Is this a homework question?

 

[Brsln2]

No it is not a homework question but a genuine one.

 

[David Griffiths]

You see it looks like a homework question because it doesn't mention other capital gains reliefs taht would probably wipe out the gain.

No, he can't get "rollover relief"