Capital Gains

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An asset is sold subject to a condition. The condition was satisfied and the asset was later reacquired at the same price. Subsequently it was sold at a higher price. Is there an argument that the holding period for taper relief starts at the beginning of the first period?

By Nigel Eastaway, Keith Eamer, Diane Elliott and Shan Kennedy; £110 (plus 7.7% VAT)

A client has tried to claim capital allowances in advance of the purchase of the asset by making a payment to his wife’s company, which will purchase the asset after the year end of his business. Is this plan affective?

A company director believes that he may be able to extract funds from his limited company by means of a back-to-back loan arrangement with the director of another limited company

The members of a professional partnership incur some business expenses individually in addition to the communal expenses paid by the partnership. How is tax relief claimed?

ANDREW SEIDLER reminds advisers of the possible need for non-doms to make a timely election for capital losses

Recent sales may be entitled to tax refund

CRC v Prizedome Ltd and another, Court of Appeal, 12 March 2009

Removal of tax break threats tourism industry, claims PKF

A sole trader may incorporate his business. Does the value of current contracts represent goodwill that could be sold to the company?

Interest to be asset for purpose of CGT on chargeable gains

Non-payable dividend tax credit restored for under-10% holdings

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