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Asset anomaly?
I attended a lecture recently at which the lecturer suggested that shares in an unlisted property development company were a business asset for capital gains tax taper relief purposes. However, I was under the impression that, since property development is not a qualifying trade for the purposes of the enterprise investment scheme, it followed that shares in the company could not be classed as a business asset for the purposes of taper relief.
Asset anomaly?
I attended a lecture recently at which the lecturer suggested that shares in an unlisted property development company were a business asset for capital gains tax taper relief purposes. However, I was under the impression that, since property development is not a qualifying trade for the purposes of the enterprise investment scheme, it followed that shares in the company could not be classed as a business asset for the purposes of taper relief.
Am I confusing my trading assets with business assets? Readers' comments would be welcome.
(Query T16,539)
