Revenue loses tax test case on heirlooms
Revenue loses tax test case on heirlooms
- 1992
- Independent 7 February 1992, 22 Accountancy 13 February 1992, 8(1) .
Discusses the implications of a recent CA test case Smith v Schofield decision concerning Inland Revenue rules for calculating capital gains tax on antiques and other assets purchased prior to the tax being introduced in April 1965.
Arts and antiques
CAPITAL GAINS TAX
FINE ARTS
INDEXATION ALLOWANCE
TIME-APPORTIONMENT
Discusses the implications of a recent CA test case Smith v Schofield decision concerning Inland Revenue rules for calculating capital gains tax on antiques and other assets purchased prior to the tax being introduced in April 1965.
Arts and antiques
CAPITAL GAINS TAX
FINE ARTS
INDEXATION ALLOWANCE
TIME-APPORTIONMENT