Holdover and roll over relief - and the tax consultant said 'Rollover'

The things we do for tax

This episode looks at holdover and rollover relief claims and why they have become so important again.

The episode looks at

• What can and cannot be claimed for both reliefs
• The claims procedures – how and where to claim, time limits and current practical issues that could invalidate the claim
• A range of real-life practical examples
• Planning points with these two important reliefs

By the end of the episode you will have an updated and excellent knowledge of holdover and rollover relief, how they work, the claims procedures and how to use them in planning.

The guest is Ros Martin. Ros is leading tax consultant and can be contacted at [e-mail] or www.taxdr.co.uk

Check www.thethingswedofortax.co.uk for new episodes providing CPD for tax accountants

Chapter

1. Holdover and roll over relief - and the tax consultant said 'Rollover' (00:00:00)

2. Holdover and rollover introduction and why they are back 'in fashion' (00:01:23)

3. What is holdover relief? (00:02:19)

4. Who can claim holdover relief? (00:03:23)

5. When can you not get holdover relief? (00:04:27)

6. s165 and s260 TCGA 1992 (00:04:58)

7. Is there a lifetime limit? (00:05:18)

8. Qualifying assets (00:05:51)

9. Restrictions on the amount of the claim (00:06:47)

10. Minor children (00:09:29)

11. Limited companies and holdover (00:09:55)

12. The holdover relief claim (00:10:16)

13. Where the claim is made (00:10:44)

14. HS295 (00:11:01)

15. Holdover claim form problems (00:11:28)

16. Problems with signatures (00:12:15)

17. Nudge (one to many) campaign for holdover relief (00:12:33)

18. Physical or digital signature??? (00:14:15)

19. Basic example (00:15:35)

20. Basic example 2 (00:16:28)

21. Impact of non-residence (00:17:47)

22. Practical example of holdover and non-residence (00:18:46)

23. Holdover example and pre-transaction planning (00:20:51)

24. Points to watch on agricultural property (00:23:59)

25. Shares (00:25:04)

26. Definition of trading (00:25:10)

27. Non-chargeable assets (00:26:15)

28. What is rollover relief, why it is important and impact with BADR (00:27:33)

29. Rollover relief the basis (00:28:54)

30. Practical example 1 - time limits (00:29:11)

31. Practical example 2 - time limits (00:29:14)

32. Rollover assets and depreciating assets (00:35:05)

33. Use of assets up to point of sale/transaction (00:37:30)

34. Types of assets that qualify (00:38:30)

35. FHL (00:40:26)

36. Help sheet 290 (00:41:38)

37. Reinvest - not all proceeds reinvested (00:42:25)