000			01326cab a2200265 4500
001			ABS55431
008			090401t1996 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u16384
041			_aeng
245			_aWase v Bourke
260			_c1996
350			_a0
490			_aEstates Gazette _v[1996] 25 EG 170-172(3)
520			_aChD 22 November 1995. In March 1988, B retired and sold his dairy herd. In February 1989, B who was then sixty, sold his milk quota to a third party. The general commissioners decided the milk quota sale was part of B`s disposal of his dairy farming business and held that he was entitled to retirement relief against capital gains tax. The inspector of taxes (W) appealed. Held, the disposal of the milk quota was disposal of an asset and not the disposal of either the whole or part of the dairy farming business, which ceased upon sale of the herd. Accordingly, the disposal of the milk quota does not qualify as a disposal which is entitled to relief under the Finance Act 1985 s69(2). Appeal allowed.
650			_aCAPITAL GAINS TAX
650			_aDAIRY HERD
650			_aFINANCE ACT 1985 S69(2)
650			_aFINANCE ACT 1985
650			_aMILK QUOTAS
650			_aTAX RELIEF
650			_aWASE V BOURKE
690			_aTAXATION-CASE LAW
942			_n0
948			_c04/03/1997
999			_c10778 _d10778