Retirement tax relief could be claimed by an individual on land owned through a limited company. There was no explicit requirement for direct ownership at the time of cessation. Here farmed land was sold by a limited company at the time of the owner’s retirement, but although no shares were sold, but the sale remained an ‘associated sale of assets.’
Citations:
Gazette 30-Jun-1999, Times 05-Jul-1999, [1999] EWCA Civ 1614
Statutes:
Jurisdiction:
England and Wales
Citing:
Appeal from – Plumbly and Others v Spencer (Inspector of Taxes) ChD 4-Mar-1997
Retirement relief is restricted to assets actually used within a family business. . .
Cited by:
Appeal from – Plumbly and Others v Spencer (Inspector of Taxes) ChD 4-Mar-1997
Retirement relief is restricted to assets actually used within a family business. . .
Lists of cited by and citing cases may be incomplete.
Capital Gains Tax
Updated: 11 May 2022; Ref: scu.146529