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08 June 2010
TERRY JORDAN checks out the pre-owned assets tax charge and warns of an important test date
KEY POINTS
- A summary of the POAT provisions.
- The relationship to gifts with reservation of benefit.
- The scope of POAT and the charging provisions.
- Electing back into the inheritance tax regime.
- Check the rental and capital value figures at 6 April 2010.
The title of this article does not refer to the greeting afforded to the writer by the owner of his local used car emporium but rather to a résumé of the main features of the pre-owned assets tax charge that in the writer’s view may be more honoured in the breach than the observance. 
It is also a reminder that it may now be necessary to update previously obtained figures and...
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