Lakshmi Narain outlines the key tax issues
For some time now advisers and taxpayers alike have been concerned to determine the tax consequences of a transfer by sale or otherwise of trade-related premises.
The issue took on greater importance with the abolition of stamp duty on instruments relating to goodwill (see FA 2002 s 116) the introduction also in 2002 (FA 2002 Sch 29) of tax relief for expenditure on intangibles for corporation tax (now in CTA 2009 Part 8) and the finding of the Special Commissioners in Balloon Promotions Ltd v Wilson [2006] STC (SCD) 167 which was not appealed.
The failure to formally dispute the finding of the Special Commissioners has unsurprisingly led...
