Taxation of Chargeable Gains Act 1992 section 248D

Milk quotas

Section 248D extends the roll-over relief available on disposals of joint interests in land to include any milk quota associated with the land holdings involved.

• Where roll-over relief under section 248B applies to a disposal of a joint interest in land, this section extends that relief to milk quota associated with the land holdings
• The section applies only where milk quota is associated with both the holding in which the relinquished interest is held and the holding in which the acquired interest is held
• The same calculation rules and conditions that apply to the roll-over relief on the land itself also apply to the disposal and acquisition of the associated milk quota
• This provision took effect for disposals on or after 6 April 2010, having been introduced to enact what was previously an extra-statutory concession