Capital Gains

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CHRIS HART explains the current state of play concerning the valuation of goodwill for SDLT and capital gains tax purposes

Summary of Revenue & Customs Brief 9/09

DAVID BOWES considers the Court of Session’s finding in Gray’s Timber Products Limited v HMRC that personal rights are ignored when valuing company shares

CRC v Collins, Chancery Division, 20 February 2009

Underwood v CRC, Court of Appeal, 15 December 2008

HMRC have given a clearance for the reconstruction of a holding company and its two subsidiaries into two separate companies. The clearance states that it does not extend to a sale or liquidation of the new companies. What are the implications?

Mayes (SpC 729)

RJ Smith (SpC 725)

What are the tax implications when a limited company sells a database for a nominal amount and a share of future profits?

A writer and lecturer would like to liquidate his cash rich company and retire to Spain, where any work will be carried out in a personal rather than a corporate capacity

A house is effectively – but not legally – divided by co-owner brothers into two flats although these are not completely separate. One inherits the other’s share, which is now occupied by his mother

A company has ceased trading and it has used the surplus funds of its retained profits to purchase an investment property. What effect will this have on the possibility of any future claim to entrepreneurs’ relief by the shareholders?

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