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TCGA92/S156ZB

As explained in CIRD20270, a capital gain arising on the disposal of goodwill or the various types of agricultural and fishing quota within TCGA92/S155 on or after 1 April 2002 can attract:

• CG roll-over relief by virtue of the acquisition of new assets (tangible or intangible) before 1 April 2002 so long as it is within the period allowed for acquisitions prior to disposals (usually 12 months),
• reinvestment relief under CTA09/PART 8 by virtue of the acquisition of the replacement assets qualifying as chargeable intangible assets within CTA09/PART 8.

Such a capital gain can be deferred partly by virtue of the acquisition of the new assets within the CG roll-over relief rules and partly by virtue of expenditure on chargeable intangible assets within CTA09/PART 8 (see CIRD20035). For the purpose of CG roll-over relief expenditure qualifying for CTA09/PART 8 reinvestment relief is regarded as qualifying for CG relief and vice versa.

Claims of this kind are referred to below as ‘hybrid claims�.

It follows that where the relevant disposal takes place after March 2003 a hybrid claim will only be possible if the situation is one where the Board’s discretion to extend the 12 month period is exercised (CG60640 onwards).