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Tom got tangled
The gremlins found their way into a couple of points in 'Tom's Tangles with Taper' (Taxation, pages 206 to 207) in that Tom will not get a ten per cent rate on his tainted assets until 2010 and when his wife, Beryl, sells the shares in November 2003 (Example 2), she will not get any business asset taper relief, the whole gain will be subject to non-business asset taper. The message from the example is still clear, she should have transferred the shares back to Tom before a sale.
Tom got tangled
The gremlins found their way into a couple of points in 'Tom's Tangles with Taper' (Taxation, pages 206 to 207) in that Tom will not get a ten per cent rate on his tainted assets until 2010 and when his wife, Beryl, sells the shares in November 2003 (Example 2), she will not get any business asset taper relief, the whole gain will be subject to non-business asset taper. The message from the example is still clear, she should have transferred the shares back to Tom before a sale.
