Rana Sold his factory on 10 May 2020 and he is planning to buy another asset and wants to claim Rollover relief under Capital Gain, which of the two conditions are relevant (select 2 answers)

(2 Points)

The new replacement asset should be used for business purposes

New assets should be acquired within 2 years from the date of sale.

The new asset should be used for business without unnecessary delay

New assets can be any assets but they should be used for business.

Rana Sold his factory on 10 May 2020 and he is planning to buy another asset and wants to claim Rollover relief under Capital Gain, which of the two conditions are relevant (select 2 answers)UK TAX

(2 Points)

The new replacement asset should be used for business purposes

New assets should be acquired within 2 years from the date of sale.

The new asset should be used for business without unnecessary delay

New assets can be any assets but they should be used for business.