Where joint owners of land exchange their interests in the land so that each joint owner becomes the sole owner of part of the land, there is a disposal by each owner. In many cases, no money will change hands. A form of rollover relief is therefore available for such exchanges1. A similar but separate rollover relief applies to the exchange of joint interests in private residences2.
Rollover relief for land other than private residences
Relief is available, where a claim is made, if3:
- Ìý
•ÌýÌýÌýÌý a 'holding of land' or two or more separate holdings of land are jointly held by a person (the 'landowner') and one or more other persons
- Ìý
•ÌýÌýÌýÌý the landowner disposes of an interest in the holding or one or more of the holdings to one or more of the co-owners
- Ìý
•ÌýÌýÌýÌý the consideration for the disposal is or includes an interest in a holding of land held jointly by the landowner and the co-owners concerned
- Ìý
•
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 17:05