Paul Howard explains how relief under TCGA 1992 s 165 applies to a gift of shares.
QuestionOur client owns 70% of a private limited company that manufactures and sells garden furniture. The company has a rental lease in respect of the premises from which it trades as well as a small commercial unit next door which it rents out commercially to a third party. The company bought the trade and the trading assets from a third party in 2005 paying £200 000 for the goodwill and £500 000 for the other assets including machinery and stock. The rental property is worth about £150 000. It is considered that the goodwill is now worth about £700 000. Our client...
