Capital gains tax
Capital gains tax
- 1998
- Estates Gazette Case Summaries [1998] EGCS 17, 14/2/98, (1) .
"Barrett (HMIT) v Powell" ChD 3 February 1998. A taxpayer of retirement age surrendered protected agricultural tenancy for consideration of £120,000 on the understanding that he would continue farming the tenanted land until it was required by the landlord. Question whether disposal qualified him for CGT retirement relief. The taxpayer`s appeal to the general commissioners was allowed. The Revenue appealed by way of case stated to the High Court. Revenue`s appeal allowed.
AGRICULTURAL TENANCY
CAPITAL GAINS TAX
RETIREMENT RELIEF
"Barrett (HMIT) v Powell" ChD 3 February 1998. A taxpayer of retirement age surrendered protected agricultural tenancy for consideration of £120,000 on the understanding that he would continue farming the tenanted land until it was required by the landlord. Question whether disposal qualified him for CGT retirement relief. The taxpayer`s appeal to the general commissioners was allowed. The Revenue appealed by way of case stated to the High Court. Revenue`s appeal allowed.
AGRICULTURAL TENANCY
CAPITAL GAINS TAX
RETIREMENT RELIEF