Capital gains tax rollover relief for shares

Question:

Is there a way please of rolling the gain (£116,525) on trading company shares (proceeds £121,600) that qualify for entrepreneur's relief into a furnished holiday letting property (cost £180,000) acquired and let before 5 April 2010?

Thank you

Answer:

No. Although the furnished holiday letting property would be a qualifying asset for rollover relief purposes, shares in a trading company would not unfortunately qualify.

Given that both the old and new assets need to be qualifying assets for rollover relief, the reinvestment above would not qualify for rollover relief.

The gain on the shares could be deferred by reinvesting into EIS shares.