04 May 2006
A farmer and his wife farmed in partnership for many years. The farmer died in 2002 and the wife continued the business. In 2006, she sold off most of the farmland and some of the buildings and a capital gains tax computation needs to be prepared. It seems that the gain on the half share previously held by the late husband will be calculated by reference to the value at date of his death, but how is the taper relief calculated?
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