.png)
.png)
SIMON MCKIE examines the nature of a disposal for capital gains tax purposes in light of the decision in Underwood v CRC
KEY POINTS
- No definition of a disposal exists in the legislation
- Does the transfer of beneficial ownership constitute a disposal?
- The treatment of transfers of assets into a trust
- The nature of a promissory contract
- How does Jerome v Kelly help?
Capital gains tax was introduced 43 years ago. It is and has been since its introduction chargeable on capital gains 'accruing to a person on the disposal of assets'.
One might have thought therefore that the nature of a disposal for capital gains tax would be absolutely clear. In fact there is no general definition of a disposal to be found in the legislation although particular provisions extend the meaning of the word to various transactions and other situations which would or might not be disposals within...
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.
