Court of Appeal (Civil Division).

Peter Gibson and Simon Brown L JJ and Sir Iain Glidewell.

Judgment delivered 22 May 1997.

Capital gains tax – Roll-over relief – Replacement of business assets – Property purchased as a single asset – Part of property subsequently sold – Whether retained part to be treated as a ‘new asset’ and part disposed of as an ‘old asset’ – Whether relief available – Capital Gains Tax Act 1979, s. 115 (1) (Taxation of Chargeable Gains Act 1992, s. 152(1)).

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