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Overview 

To qualify for relief, both the old assets and the new assets must be relevant assets.  lists the types of assets that qualify for roll-over relief and allocates them to eight classes. The old assets and the new assets do not have to be assets of the same type.  

The legislation at  refers to relevant classes of assets, but guidance may often refer to qualifying assets instead. In the context of roll-over relief, relevant assets and qualifying assets have the same meaning. 

Class 1A - land and buildings 

Land and buildings are separate relevant assets for the purposes of roll-over relief. For further guidance, see CG60281. 

Class 1B - fixed plant and machinery 

Fixed plant and machinery are also relevant assets. For more information, see CG60282. 

Class 2 - ships, aircraft and hovercraft 

In the absence of a statutory definition, these words take their ordinary, everyday meaning. HMRC accepts that anything covered by the  definition of â€˜ship’ is a ship for roll-over relief purposes. That Act defines a ship as including every description of vessel used in navigation, so any vessel that is capable of being manoeuvred under direct or indirect power should be treated as a ship. 

‘Aircraft’ includes aeroplanes, helicopters, airships, and hot air balloons. 

Class 3 - satellites, space stations, spacecraft (including launch vehicles) 

In the absence of a statutory definition, these words take their ordinary, everyday meaning. 

Classes 4, 5, 6 and 7 - intangibles 

There are special rules for companies for assets falling within classes 4 to 7. In general, roll-over relief is not available to companies where intangible fixed assets are acquired or disposed of on or after 1 April 2002. See ,  and . Detailed guidance on the reinvestment relief available for companies disposing of intangible assets is at CIRD20000. 

Class 8 – Lloyd’s assets 

Further information can be found in the Lloyd’s Manual at LLM8220.