Capital Gains

A partnership that has made substantial capital allowances claims on fixtures at its premises is to be incorporated. Advice is required on the interaction of CAA 2001, s 187A, which requires the value to be fixed, and s 266, which relates to connected parties

A mother and father gave some land with development potential to one of their children, who is a farmer. A condition of the gift was that a proportion of any future sale proceeds over the agricultural value of the land should be passed to their two other children

KEVIN SLEVIN considers whether expenditure that enhances the value of an asset is always tax deductible

W Shakoor (TC2208)

A trust owns a let property and has a £15,000 tax pool, but income has been spent on repairs to the property. The property has been distributed to the beneficiaries and subsequently sold

Is it always necessary to make an election to choose between one residence and another, asks RICHARD CURTIS

The implications for entrepreneurs’ relief following the relaxation of the qualification criteria for enterprise management incentive scheme options are discussed by AMANDA FLINT and TOBY LOCKE

In October 2008, shares were sold to a new company in exchange for redeemable preference shares. An election was made to disapply holdover relief to enable the capital gains tax entrepreneurs’ relief to be claimed, but only some of the new shares have been received. Can the TCGA 1992, s 169Q election now be revoked?

The interaction between main residence relief and entrepreneurs’ relief is examined by KEVIN SLEVIN

Firms' proposals have been statistically unacceptable

Consultation as personal independence payment approaches

A reminder of the rules for capital gains tax and earn-outs, adapted from an article in the Tolley Guidance owner-managed business module