Good news on capital gains issue
The First-tier tribunal concluded that a payment by a significant shareholder to get out of an obligation in order to assist a buyer in acquiring the company was a deductible expense in computing his capital gain on an eventual acquisition even though this was by another party. The tribunal held that the expenditure was for the purpose of enhancing the value of the shares and that it was reflected particularly in the state rather than the nature of the shares.
Further details can be found here.
Date: 10th March, 2014
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