24 January 2007
My client holds some Wimbledon Lawn Tennis Association debentures. Every year he is able to sell some of the tickets to which he is thereby entitled to corporate hospitality agents for quite considerable sums. If my client decided to sell some or all of the seats, would this transaction be regarded as 'a capital sum derived from an asset' and, if so, what proportion of the cost could be set against the proceeds?
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