Tag Archive: capital gains tax
Forced sale of home and very short period of occupation did not disallow capital gains tax principal residence relief
During the financial downturn in 2008, a taxpayer had no option but to take out a buy-to-let mortgage to support his continued ownership of a property as no other type of finance was available to him. Contrary to the lender’s…
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Capital Gains Tax order of reliefs – EIS applies before Taper Relief
While capital gains tax taper relief is long gone its effects still surface occasionally, so it is worth noting the Case of Stolkin v HMRC ([2016] EWCA Civ 447) which concerned the order in which reliefs are applied. Stolkin is…
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£200,000 Capital Gain Sidestepped by Farmers Through Rescission
The High Court has found that transfers into trust which had triggered disastrous and apparently unexpected tax consequences could be rescinded for mistake using equitable tracing. A father and son who farmed in partnership had transferred several pieces of land…
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