Wasting asset
Wasting asset
- 1991
- Estates Gazette Case Summaries 1991 EGCS 8(2) (8 February 1992) .
In "Lewis v Inland Revenue Commissioners" ChD 16 January 1992, the court upheld the IRC argument that capital gains tax computation on the disposal of a leasehold interest in a house inherited by the appellant and his sister should be on the basis of a wasting asset under s37 and Schedule 3 to the Capital Gains tax 1979. Appeal dismissed.
CAPITAL GAINS TAX ACT 1979
CAPITAL GAINS TAX
LEASEHOLD INTEREST
LEASEHOLD REFORM ACT 1967
WASTING ASSET
In "Lewis v Inland Revenue Commissioners" ChD 16 January 1992, the court upheld the IRC argument that capital gains tax computation on the disposal of a leasehold interest in a house inherited by the appellant and his sister should be on the basis of a wasting asset under s37 and Schedule 3 to the Capital Gains tax 1979. Appeal dismissed.
CAPITAL GAINS TAX ACT 1979
CAPITAL GAINS TAX
LEASEHOLD INTEREST
LEASEHOLD REFORM ACT 1967
WASTING ASSET