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HMRC v Mark Stolkin

In HMRC v Mark Stolkin (FTC/42/2012 – 9 April 2014) the taxpayer’s case was that he could elect to claim enterprise investment scheme (EIS) relief on the part of the gain accruing on the disposal of two properties used for both business and non-business purposes and which was referable to the non-business use. This would enable the taxpayer to take advantage of the more generous taper relief available on the disposal of business assets. The UT reversed the decision of the FTT finding in favour of HMRC.

In his tax return the taxpayer had divided the gain arising on the disposal of the two properties between business and non-business use. He sought to apply EIS relief against the full amounts of the non-business gains and to apply taper relief to the business gains so far as they were not relieved by the balance of EIS relief.


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