247 Roll-over relief on compulsory acquisition
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

247  Roll-over relief on compulsory acquisition

(1)     This section applies where—

(a)     land (“the old land”) is disposed of by any person (“the landowner”) to an authority exercising or having compulsory powers; and

(b)     the landowner did not take any steps, by advertising or otherwise, to dispose of the old land or to make his willingness to dispose of it known to the authority or others; and

(c)     the consideration for the disposal is applied by the landowner in acquiring other land (“the new land”) not being land excluded from this paragraph by section 248.

(2)     Subject to section 248, in a case where the whole of the consideration for the disposal was applied as mentioned in subsection (1)(c) above, the landowner, on making a claim as respects the consideration so applied, shall be treated for the purposes of this Act—

(a)     as if the consideration for the disposal of the old land were (if otherwise of a greater amount or value)

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