Wase (Inspector of Taxes) v Bourke: ChD 24 Nov 1995

The separate sale of a milk quota on a farmer’s retirement had no capital gains tax exemption. No cessation relief was available on milk quota sold one year after the sale of the herd and the business.

Citations:

Ind Summary 08-Jan-1996, Times 24-Nov-1995

Statutes:

Finance Act 1985 69(2)(a)

Jurisdiction:

England and Wales

Agriculture, Capital Gains Tax

Updated: 02 February 2022; Ref: scu.90312