Section 198A | Ring fence reinvestment: whole consideration reinvested ^F1

(1)This section applies if a person (“P”) makes a disposal and acquisition which—

(a)is a ring fence reinvestment, and

(b)qualifies for roll-over relief.

(2)P may make a claim under this section in relation to the disposal and acquisition.

(3)If P makes a claim under this section—

(a)section 152 does not apply to any of the disposal consideration, and

(b)any gain accruing to P on the disposal is not a chargeable gain.

(4)In this section “disposal consideration” means the whole of the consideration obtained on the disposal made by P.