Michael Dawson

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: