Therefore, Mr Harrison points out that leaving the qualifying business assets
to the surviving spouse or civil partner can 'waste' the relief if the business is subsequently sold because after the sale proceeds no longer attract BPR on the death of the second partner.
The chancellor has indicated that he proposes to improve the rate of business assets
taper relief (BATR) from 6 April 2002, so that the 10 per cent rate is achieved after two complete years of ownership.
For AMT purposes, the program computed a significant difference for adjusted gains and losses on the sale of the business asset
, which may have been partially due to missing required AMT depreciation input.
We suggested that the best way to achieve this was to separate the tax treatment of business assets
and non-business assets
, and continue the pre-PBR rules for CGT on business assets
Ironically, it was Gordon Brown himself who first drew the distinction between business assets
and non-business assets
when he introduced the taper relief regime in April 1998.
Applying the 40% higher rate of tax for capital gains to the tapered gain gives an effective rate of tax of 10% for business assets
after two years of ownership.
From April 6, an individual who has owned a business asset
for only two years could therefore keep as much as 90 per cent of the proceeds.
More likely, the IRS viewed the holding company's ownership of stock in the operating subsidiary as a historic business asset
of the holding company that the subsidiary somehow continued after its acquisition of the holding company's assets.
Equally, shareholdingsin companies that have high levels of investment income or investment assets may not qualify for the better business asset
Numerous smaller businesses will have welcomed proposals in the Autumn Statement which broaden the scope of capital gains tax business asset
Thus, for example, if a corporation has nonliquid trade or business assets
valued at $100 and cash of $10, the corporation may consider $5 of the cash as a trade or business asset
, so that the corporation has trade or business assets
BDNA Corporation is an innovator in business asset
M2 EQUITYBITES-July 24, 2017-US Dataworks Sells Business Assets
to Bankers Bancorp of Oklahoma in Bankruptcy Move
of Florida today announced that it has completed its acquisition of certain business assets
of Southern Waste Systems (SWS)/Sun Recycling in Miami-Dade, Broward, Palm Beach, Martin and St.
NYSE: GGG) has received notice from the United States Federal Trade Commission approving the company's application to sell its Liquid Finishing business assets
to US-based Carlisle Companies Inc.