Taxation of Chargeable Gains Act 1992 section 164B

Roll-over relief on re-investment by trustees

Section 164B provided trustees with roll-over relief when they re-invested the proceeds from a chargeable gain into qualifying assets, but this provision has been repealed.

• Section 164B was part of a group of provisions (sections 164A to 164N) known as Chapter 1A, which allowed trustees to defer chargeable gains by re-investing in qualifying assets.
• The roll-over relief worked by reducing the base cost of the new asset by the amount of the gain, effectively postponing the tax charge until the new asset was disposed of.
• The entire Chapter 1A, including section 164B, was repealed by the Finance Act 1998 and no longer applies to acquisitions made on or after 6 April 1998.
• Any roll-over relief claimed under these provisions before 6 April 1998 may still have consequences for the base cost of assets acquired prior to that date.