SCIT CAPITAL GAINS TAX – Allowable losses – Disposal of units in enterprise zone property unit trust – Capital allowances made to Appellant – Whether Appellant’s allowable expenditure to be restricted by capital allowances – No – TCGA 1992 s.41(2) – Appeal allowed.
Citations:
[2005] UKSPC SPC00509
Links:
Jurisdiction:
England and Wales
Cited by:
Appeal From – Revenue and Customs v Smallwood ChD 6-Jul-2006
The Revenue appealed dismissal of its claim for assessment to tax of distributions received from taxpayers units in an enterprise zone property.
Held: The appeal failed. Legislation had since prevented 100% capital allowance claims. . .
At SCIT – HM Revenue and Customs v Smallwood CA 17-May-2007
The taxpayer had put money into a enterprise zone property unit trust. That money had gone into refurbishment. Several years later the property was sold with a substantial profit, and the trust managers arranged the distributions so that no . .
Lists of cited by and citing cases may be incomplete.
Capital Gains Tax
Updated: 04 July 2022; Ref: scu.235469
