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hugues
Apprentice
Joined: 22 Sep 2006
Posts: 3
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 Posted: 02/16/08 - 10:32 Post subject: |
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| Hello. I would like to know something about rollover relief, when it is applicable, and what are the conditions of that relief? I own an asset which I want to sell and turn into other business asset. Is it tax free, or I will have to pay CGT when I sell the first asset? |
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ebonee
Apprentice
Joined: 13 May 2004
Posts: 6
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| Posted: 03/17/08 - 01:14 Post subject: |
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| I believe that you should have no problems regarding this issue. If you’re selling asset which can be described as qualifying business asset and use that money to invest in some other business, then you are eligible for rollover relief. If the situation is different, for example, if your asset cannot be considered as business property, if you’re married you should try dividing the ownership to you and your wife, and fit that amount into non CGT payable income. |
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