Roll-over Relief/re-investment relief
15/12/1987
Query
Cessation of trade carried on for less than 10 years and commencement of similar trade.
Decision
Strictly, relief is not due as Section 597(ii)(b) requires that the old trade be carried on for at least 10 years. However, S.597(ii)(a) allows relief where two trades, wholly or mainly concerned with goods or services of the same kind are carried on. This is read as applying where the trades are carried on simultaneously or successively, thus covering a cessation of one trade and the commencement of a similar trade.
Capital Gains Tax
Section 597, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:G.10(E)