roll-over relief

= replacement of business asset relief
A relief from capital gains tax available on certain disposals in which the proceeds from the disposal of the asset are reinvested in a new business asset. Both the old and new asset must be business assets, but they do not have to belong to the same category. For example, the proceeds on disposal of land (the old asset) could be rolled over into the acquisition of plant and machinery (the new asset). The disposal of the old asset and the acquisition of the new asset must take place within specified time limits. Detailed regulations are available from the Inland Revenue's Capital Gains Manual.

Accounting dictionary. 2014.

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