| 单词 | roll-over relief |
| 释义 | roll-over relief = replacement of business asset relief A relief from capital gains tax on certain disposals. A gain arising on the disposal of a business asset may be rolled over in full, resulting in no payment of capital gains tax on its disposal. This can only occur if all the proceeds received from the disposal of the asset are re-invested in a new business asset. Both the old and new asset must both be business assets, which are defined as: ● land or buildings, ● fixed plant and machinery, ● ships, aircraft, and hovercraft, ● goodwill, ● satellites, space stations, and spacecraft, ● milk and potato quotas, ● premium quotas for ewes and suckler cows. The old asset and the new asset do not have to belong to the same category. The proceeds on disposal of land (the old asset) could be rolled over into the acquisition of a milk quota (the new asset). Full roll-over relief would be available if all the proceeds from the land were used to acquire the milk quota. |
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