§ Mr. Joel Barnett
asked the Chancellor of the Exchequer if he will reconsider his refusal to grant rollover relief to Oldham Rugby Union Club, in view of the similar relief from capital gains tax given to the Pharmaceutical Society in the Finance Act, 1972; if he will now ensure that the same relief is given to amateur sports organisations and others finding themselves in the same position as Oldham Rugby Union Club; and if he will make a statement.
§ Mr. Nott
Rollover relief was originally designed for persons carrying on a trade, profession, vocation or employment; and we accepted the case for extending the relief to bodies representing trades and professions, by an Amendment introduced in this year's Finance Act by 319W my hon. Friend the Member for Enfield, West (Mr. Parkinson). I could not accept that an extension of the relief beyond the area of trades and professions, for example to the bodies mentioned by the hon. Member, would be justified.