Section 159A — Taxation of Chargeable Gains Act 1992: Disposals of interests in UK land by non-residents: roll-over relief

Disposals of interests in UK land by non-residents: roll-over relief 159A 1 This section applies in a case where—

a the old assets that are disposed of are interests in UK land, and b a chargeable gain accruing on the disposal would (apart from section 152) be within the charge to tax because of section 1A(3)(b) or 2B(4)(a).

2 Section 152 applies only if the new assets that are acquired are interests in UK land.

3 In this section—

a “ interest in UK land ” has the meaning given by section 1C, b “ the old assets ” and “ the new assets ” have the same meaning as in section 152, c any reference to a disposal of the old assets includes a disposal of an interest in them, d the reference to the acquisition of the new assets includes the acquisition of an interest in them or entering into an unconditional contract for their acquisition.