Rollover relief
Insert this sheet when the proceeds of a chargeable disposal are reinvested into non-depreciating assets. It tracks the base cost and cost capacity of each asset that has been used to defer one or more chargeable gains. Import or manually fill out the sheet.
- Add a row for each asset with the following details:
- Description
- Date of acquisition
- Original cost
- Base cost - acquisition cost
- Base cost - gains rolled over into base cost
- Cost capacity - proceeds used for relief
noteThe total gains rolled over into base cost and the total proceeds used for relief will be checked against the totals from theChargeable disposalsheets.If you've entered rollover relief amounts on theChargeable Gainssheet, then make sure you enter those amounts in theReconciliationsection of that sheet. - Closing base cost and cost capacity are carried forward to the next accounting period.
- Enter disposed assets on this sheet, then enter the reduced base cost in theAcquisition costrow of theChargeable disposalsheet.
Related Content
-
Chargeable Gains
Format:
Article