CG61800 - Roll-over relief: reorganisations of constituencies: general

TCGA92/S264

TCGA92/S264 provides for roll-over relief on capital gains realised from the disposal of land by a local constituency association of a political party where:

  1. as a consequence of an order under the Parliamentary Constituency Act 1986, the area of the Parliamentary constituency or constituencies covered by the local constituency association (the `existing association’) is changed;
  2. some part of the area covered by the existing association becomes comprised in an area covered by another association (the `successor association’);
  3. the existing association either:-

i) disposes of land directly, or through an intermediate body, to a successor association,

or

ii) disposes of land which was used and occupied by it for the purposes of its functions and transfers the whole or part of the proceeds of the disposal to a successor association.

This relief is in addition to any roll-over relief available under TCGA92/S158(1)(e), see CG60260.

The following definitions apply for the purpose of TCGA92/S264:-

  • `Local constituency assocation’ means an unincorporated association (whether described as an association, branch or otherwise) whose primary aim is to further the aims of a political party
  • ‘Political party’’ means a party which at the last general election preceding the disposal had two members elected to the House of Commons or one member and not less than 150,000 votes given to candidates of the party
  • ‘Intermediate body’ means an organ of the political party concerned, whether corporate or unincorporated (for example in the case of the Labour Party, the National Executive Committee)
  • `Land’ includes houses and buildings of any tenure, see TCGA92/S288