Mark McLaughlin CTA (Fellow)

Family Companies

Ending The Family Company

MARK McLAUGHLIN ATII, ATT, TEP outlines some key considerations relating to the liquidation or winding up of family companies.

In the third and final case study on capital gains tax rollover relief, MARK McLAUGHLIN ATII, ATT, TEP, consultant, and MICHAEL DAWSON MA, FCA, ATII, principal of Forbes Dawson, outline a planning opportunity involving furnished holiday lettings, non-residence and rollover relief.

MARK McLAUGHLIN ATII, ATT, TEP, consultant, and MICHAEL DAWSON MA, FCA, ATII,
principal, of Forbes Dawson explain a planning point involving the interaction
between non-residence and rollover relief.
TIME HAS MOVED on since 'Arthur's Good Result' (Taxation, 5 September 2002 at
page 622) where we told the story of Arthur's brief and unsuccessful foray into
the secondhand car trade.
Arthur could not resist the lure of the used car trade, and eventually bought
another used car showroom business. Despite setting out on this venture with the

MARK McLAUGHLIN ATII, ATT, TEP and MICHAEL DAWSON MA, FCA, ATII of Forbes Dawson explain how allocating gains between new assets can work to the taxpayer's advantage for capital gains tax rollover relief purposes.

UNCLE ARTHUR AND his nephew Terry are in partnership together, having operated a successful car wash business for a number of years. Profits are divided 60:40. They sell the business in August 2003, realising gains (before taper relief and annual exemptions) as follows:

MARK McLAUGHLIN ATII, ATT, TEP of Forbes Dawson warns that the settlements anti-avoidance provisions have longer tentacles than is commonly recognised.

No Help At All
Mark McLaughlin looks at the Schedule E implications of payments made to family members by other family members