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
- as a consequence of an order under Section 3, House of Commons
(Redistribution of Seats) Act 1949, or 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;
- some part of the area covered by the existing association
becomes comprised in an area covered by another association (the
`successor association');
- on or after 6 April 1983, 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.
The provisions of Section 264 apply to disposals on or after 6
April 1983 in any case where the order referred to in CG61800(a)
above comes into operation after 1 January 1983.
This relief is in addition to any roll-over relief available
under TCGA92/S158 (1)(e), see
CG60270.
The following definitions apply for the purpose of
TCGA92/S264:-
`LOCAL CONSTITUENCY ASSOCIATION' 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.
