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Based on information provided, you appear to be trading. You can claim business asset rollover relief. This lets you defer any capital gains tax due on the sale of hostel if you acquire another asset for your trade. The relief allows you to postpone paying tax until you dispose of those new assets. New assets have to cost the same as, or more than, the amount you got when you disposed of the old assets for full relief otherwise you may get partial relief.
You must acquire the new assets, or enter into an unconditional contract for the acquisition of the new assets, in the 12 months before, and 36 months after the disposal of the old assets.
More information on this can be found here - HMRC helpsheet 290
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