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MARK McLAUGHLIN CTA (Fellow), ATT, TEP examines important recent changes affecting capital gains tax holdover relief.
PARTS OF THE tax legislation remind me of my first car. The vehicle was fairly old, but it ran reasonably well on the whole. However, not having much money to spend in those days on car repairs and such like, it was often a case of 'patch up and make do'. Unfortunately, this strategy did not always work, and the repair bill often seemed out of proportion to the original breakdown.
MARK McLAUGHLIN CTA (Fellow) ATT TEP examines important recent changes affecting capital gains tax holdover relief.
PARTS OF THE tax legislation remind me of my first car. The vehicle was fairly old but it ran reasonably well on the whole. However not having much money to spend in those days on car repairs and such like it was often a case of 'patch up and make do'. Unfortunately this strategy did not always work and the repair bill often seemed out of proportion to the original breakdown.
The Taxes Acts are similar to my old car in some ways. When problems arise the existing mechanics are tweaked and additional bits bolted on. The capital gains tax restrictions affecting gifts relief and changes to principal private residence relief introduced in FA 2004 are cases in point. The problem in the...
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