What of the consequences of an asset partly being a business asset during ownership and partly being non-business, or where the asset moves from one category to the other. There are now many pitfalls within this area of taxation and the unwary can quite easily create unnecessary tax liabilities by not being fully aware of the rules.
We can offer a comprehensive service in assessing the effects of a capital disposal prior to that disposal taking place and advise of any potential pitfalls. Additionally, this tax interacts with many other reliefs and we can advise on whether any claims to mitigate or hold over the gain are possible, and the ultimate consequences of such claims being made.
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