Taxpayer loses CGT case
Taxpayer loses CGT case
- 1993
- Antiques Trade Gazette (1081) 3 April 1993, 1(1) .
In "Smith (Inspector of Taxes) v Schofield" HL 11 March 1993 the previous decision in favour of the taxpayer (WB2807-62) was overthrown. This test case provides an important ruling on the application of indexation allowances in capital goods resulting from the sale of antiques.
Arts and antiques
CAPITAL GAINS TAX
FINE ARTS
INDEXATION ALLOWANCE
TIME APPORTIONMENT
In "Smith (Inspector of Taxes) v Schofield" HL 11 March 1993 the previous decision in favour of the taxpayer (WB2807-62) was overthrown. This test case provides an important ruling on the application of indexation allowances in capital goods resulting from the sale of antiques.
Arts and antiques
CAPITAL GAINS TAX
FINE ARTS
INDEXATION ALLOWANCE
TIME APPORTIONMENT