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An eye for detail?
Key points
- The Peter Kennedy case illustrates the importance of holding an office or employment with their company.
- Should business asset disposal relief be extended to include previous office holders and employees?
- Note the two differing scenarios in TCGA 1992 s 169I.
- Trading status will determine the end of the relevant date for considering employment and shareholding.
Ihave never met Peter Kennedy nor have I had dealings with him or his advisers. However having reflected on the information gleaned from the case report of Peter Kennedy (TC7987) it is beyond doubt in my mind that he was a successful entrepreneur. Drawing on my many encounters with such clients during my former life as a chartered tax adviser I am guessing that Mr Kennedy’s business activities were driven by his commercial ideas drive enthusiasm and to a great extent an ability to get...
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