Swallow (HM Inspector of Taxes) v Shaibani
Swallow (HM Inspector of Taxes) v Shaibani
- 1996
- Rating & Valuation Reporter [1996] RVR 157-160(4) .
LT 9 January 1996. The inspector of taxes (X) sought a determination of the market value of the freehold interest in a property owned by S, for capital gains tax purposes. The property was a cafe, restaurant and lodgings in a tertiary retail location. X said the value was £25,000 and S claimed it £68,000. X said the property was in a mixed locality and that he had included an additional sum for S to acquire the freehold. S claimed that the value was higher because he had received higher offers from prospective buyers and that the rents were artificially low due to works to be carried out. "Held" the market value of the freehold interest was £25,000.
CAPITAL GAINS TAX
COMPARABLES
FREEHOLD INTEREST
LEASE TERMS
MARKET VALUE
SWALLOW V SHAIBANI
LT 9 January 1996. The inspector of taxes (X) sought a determination of the market value of the freehold interest in a property owned by S, for capital gains tax purposes. The property was a cafe, restaurant and lodgings in a tertiary retail location. X said the value was £25,000 and S claimed it £68,000. X said the property was in a mixed locality and that he had included an additional sum for S to acquire the freehold. S claimed that the value was higher because he had received higher offers from prospective buyers and that the rents were artificially low due to works to be carried out. "Held" the market value of the freehold interest was £25,000.
CAPITAL GAINS TAX
COMPARABLES
FREEHOLD INTEREST
LEASE TERMS
MARKET VALUE
SWALLOW V SHAIBANI