Taxation of Chargeable Gains Act 1992 section 158

Activities other than trades, and interpretation

Section 158 extends the roll-over relief provisions (sections 152 to 157) beyond trades to cover a range of other activities, including public authority functions, commercially managed woodlands, professions, and the activities of certain non-profit bodies and their subsidiary companies.

• Roll-over relief applies not only to trades but also to professions, vocations, offices, employments, public authority functions, and commercially managed woodlands.
• Non-profit bodies whose activities mainly protect or promote their members' trade or professional interests can also claim roll-over relief on qualifying asset replacements.
• Unincorporated associations and other non-profit bodies chargeable to corporation tax qualify for relief, as do companies they own, provided land and buildings are both occupied and used by the parent body, and other assets are used by it.
• For a company to be treated as owned by the parent body, the parent must hold at least 90% of the company's ordinary share capital and be entitled to at least 90% of distributable profits and winding-up assets.