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This article applies to:

  • Product: ONESOURCE Corporate Tax

Holdover relief

Insert this sheet when the proceeds of a chargeable disposal are reinvested into depreciating assets. It tracks the holdover gains and the cost capacity of each asset used to defer chargeable gains. Import or manually fill out the sheet.
  1. Add a row for each asset with the following details:
    • Description
    • Date of acquisition
    • Original cost
    • Current period gains held over into asset
    • Cost capacity - acquisition cost
    • Cost capacity - proceeds used for relief
    note
    The total current period gains held over and the total proceeds used for relief will be checked against the totals from the
    Chargeable disposal
     sheets.
    If you've entered holdover relief amounts on the
    Chargeable Gains
     sheet, then make sure you enter those amounts in the
    Reconciliation
     section of that sheet.
  2. Closing holdover gains and cost capacity are carried forward to the next accounting period.
  3. When holdover gain crystallises, either enter the gain on the
    Chargeable gains summary
     sheet or fill out and insert a
    Chargeable disposal
     sheet.

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