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C3.303 Rollover relief—classes of assets qualifying for relief

As outlined in C3.301 rollover relief is available where the whole or part of the proceeds of the disposal of a qualifying asset used for the purposes of a trade are matched with the acquisition of a qualifying replacement other asset to be used for the trade. Relief is only available where both the asset disposed of and the replacement asset fall within one of the specified classes. The legislation lists nine classes, classes 1, 7A and 8 each being subdivided into two heads¹. It is not necessary for the old and the new assets to belong to the same class. The Treasury has the power to add classes of asset by statutory instrument².

Although nine classes are listed, the legislation has not been updated to remove various agricultural quotas which have been abolished. The table below lists the classes of assets and indicates those which have been abolished. Further details of each class are given after the table.