The publication of Spotlight 63and several articles published by Tax Policy Associates on landlord tax planning schemes have exposed a fundamental flaw with incorporation relief from CGT. The relief relies on an archaic concession from 1971 that was originally intended to allow for business liabilities to be taken over by a company on incorporation, but it does not reflect modern banking practices and creates uncertainty over this crucial tax relief for the incorporation of any business.
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The publication of Spotlight 63and several articles published by Tax Policy Associates on landlord tax planning schemes have exposed a fundamental flaw with incorporation relief from CGT. The relief relies on an archaic concession from 1971 that was originally intended to allow for business liabilities to be taken over by a company on incorporation, but it does not reflect modern banking practices and creates uncertainty over this crucial tax relief for the incorporation of any business.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
