§ Mr. Tinnasked the Chancellor of the Exchequer whether he will extend to nonprofit-making bodies the relief from capital gains tax given to traders who use the proceeds from selling a trade asset to buy other trade assets.
§ Mr. Joel BarnettYes. The necessary legislation will be included in the Finance Bill and will apply with effect from today. I should, however, make it clear that, as for traders, this roll-over relief will not extend to any development element in the gain which is to be charged at income rates under the special provisions for development gains to take effect from 18th December last.