I have a property which is rented out at the moment. I'd like to sell it at some point to raise funds to invest somewhere else. If I sell and then immediately reinvest the profits can I avoid CGT? I've heard somewhere that I am able to do this.

Arthur Weller replies:
Where the taxpayer wants to reinvest in another investment property, there are only two occasions where the capital gain can be deferred on reinvestment: compulsory purchase and furnished holiday lettings and cannot be deferred by reinvestment. However if the taxpayer is willing to reinvest in an EIS (Enterprise Investment Scheme) investment, then any capital gain can be deferred (per the EIS rules).