Q. My client, a sole trader, has sold a yard which was used in his haulage business and then took out a 20-year lease on a replacement yard. Can he claim rollover relief on the gain? He intends to use the new yard in his business for 20 years as this should then take him into retirement.

A. Rollover relief is available when a business asset is sold and replaced with another. The legislation is found at section 152, Taxation of Chargeable Gains Act (TCGA 1992) onwards. If all proceeds from the sale are reinvested rollover relief is available in full.