For a number of years taxpayers or their
agents have been able to approach HMRC for
their views as to whether a company was a
trading company for business taper relief
purposes. Many advisers have used this facility
to great effect to ensure the availability
of the 75% reduction in the taxable gain.
HMRC have now withdrawn the facility to
ask for a pre transaction view and will only
give an opinion after the transaction has
taken place.
Internet link:
Tax Bulletin 84
|
