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MIKE TRUMAN grudgingly agrees with a new section in HMRC's CGT Manual on business asset taper relief.
SOMEDAY I WILL start a campaign for HMRC to note each page of each manual on their website with the date it was last changed. I found out only by chance that section CG17959 in the CGT Manual was changed recently.
MIKE TRUMAN grudgingly agrees with a new section in HMRC's CGT Manual on business asset taper relief.
SOMEDAY I WILL start a campaign for HMRC to note each page of each manual on their website with the date it was last changed. I found out only by chance that section CG17959 in the CGT Manual was changed recently.
You buy the freehold of a building which has a shop on the ground floor and two residential flats above. It costs £600 000. You let out the flats and trade from the shop. It is agreed that for taper relief apportionment purposes the split is one third business and two thirds investment.
Three years later you sell one of the flats for £290 000 when the value of the remainder has increased proportionately and is £580 000. Whilst it might be sensible to say that this particular...
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