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Rollover relief, or ‘replacement of business assets’ relief, allows traders to defer the payment of capital gains tax when they sell a business asset and replaces it with another in prescribed circumstances. Sometimes rollover relief is written as ‘roll-over relief’.

Rollover relief works by deferring the amount of the gain and reducing the base cost of the new asset by an amount equal to the rolled over gain. Full rollover relief is not always available (see below).

For groups of companies, rollover relief applies on a group wide basis (broadly, a gain made by one company can be rolled into the purchase of a qualifying asset by another group company). For more on the rules that apply to groups, see the Group gains guidance note.