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JOHN ENDACOTT explores the taper relief anomalies of business and non-business assets.
I WAS INTERESTED to read the recent articles in Taxation by Mike Truman under the titles 'Flatly Incredible' (14 July 2005, page 406) and 'Flatly incredible II' (8 September 2005, page 621). These concerned the position where an asset is used partly for business purposes and partly for non-business purposes as far as capital gains tax taper relief is concerned.
JOHN ENDACOTT explores the taper relief anomalies of business and non-business assets.
I WAS INTERESTED to read the recent articles in Taxation by Mike Truman under the titles 'Flatly Incredible' (14 July 2005 page 406) and 'Flatly incredible II' (8 September 2005 page 621). These concerned the position where an asset is used partly for business purposes and partly for non-business purposes as far as capital gains tax taper relief is concerned.
I have previously written articles on mixed-use assets and main residence relief and taper relief especially as far as hotels and guesthouses are concerned. I have also corresponded with Dawn Primarolo on this topic via my constituency MP Matthew Taylor at the end of 2002 in early 2003 and again late last year.
Mike Truman's articles therefore struck a chord especially as at the same time I have been...
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