Capital Gains

A trust owns a let property and has a £15,000 tax pool, but income has been spent on repairs to the property. The property has been distributed to the beneficiaries and subsequently sold

Is it always necessary to make an election to choose between one residence and another, asks RICHARD CURTIS

The implications for entrepreneurs’ relief following the relaxation of the qualification criteria for enterprise management incentive scheme options are discussed by AMANDA FLINT and TOBY LOCKE

In October 2008, shares were sold to a new company in exchange for redeemable preference shares. An election was made to disapply holdover relief to enable the capital gains tax entrepreneurs’ relief to be claimed, but only some of the new shares have been received. Can the TCGA 1992, s 169Q election now be revoked?

The interaction between main residence relief and entrepreneurs’ relief is examined by KEVIN SLEVIN

Firms' proposals have been statistically unacceptable

Consultation as personal independence payment approaches

A reminder of the rules for capital gains tax and earn-outs, adapted from an article in the Tolley Guidance owner-managed business module

J R Hanson (TC2000)

IFS director calls for 'politically difficult' tax reform

A client’s elderly mother has had to move into rented sheltered accommodation and seems unlikely to return to her home

Many years ago, a bungalow was bought with the intention it would be a retirement home. It was transferred into the wife’s sole name and was used for holidays and as furnished holiday lettings. It has now been decided to sell the property