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28 November 2007 / Keith M Gordon

Issue: 4136 / Categories: Comment & Analysis , Capital Gains

Business asset taper relief and tainted taper continue to cause problems. KEITH GORDON borrows Nora Batty's broom to sweep up a recent problem

KEY POINTS

The 'mixed use' situation.
Analysing the periods of ownership.
Splitting the gain and 'tainted taper'.
Calculating the business asset taper relief entitlement.

I have often criticised the taper relief rules as being incompatible with much of the rest of the capital gains tax legislation.

Furthermore despite being introduced as a simplifying measure (see press release IR16 following the Budget in 1998) taper relief has undoubtedly added further complexity to the capital gains tax code.

The problems with the taper relief rules were then compounded by the changes introduced in and after 2000.

In a recent Readers' forum query 'Shopping relief' (see Related Links above) the querist 'N. Batty' — let's call her (or him even) Nora asks how much taper relief is available on the disposal of a shop...

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Good news for Nora!

© Copyright LexisNexis 2024. All rights reserved.

28 November 2007 / Keith M Gordon

Business asset taper relief and tainted taper continue to cause problems. KEITH GORDON borrows Nora Batty's broom to sweep up a recent problem

KEY POINTS

The 'mixed use' situation.
Analysing the periods of ownership.
Splitting the gain and 'tainted taper'.
Calculating the business asset taper relief entitlement.

I have often criticised the taper relief rules as being incompatible with much of the rest of the capital gains tax legislation.

Furthermore despite being introduced as a simplifying measure (see press release IR16 following the Budget in 1998) taper relief has undoubtedly added further complexity to the capital gains tax code.

The problems with the taper relief rules were then compounded by the changes introduced in and after 2000.

In a recent Readers' forum query 'Shopping relief' (see Related Links above) the querist 'N. Batty' — let's call her (or him even) Nora asks how much taper relief is available on the disposal of a shop...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

Issue:

4136

Categories: Comment & Analysis [1] , Capital Gains [2]

SourceURL:

Links:

RELATED ARTICLES

Shopping relief

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