| Topic: | Re:Re:Another High Road Casualty | |
| Posted by: | Joe Conneely | |
| Date/Time: | 17/01/12 13:29:00 |
| Diane, I may be wrong and will no doubt be corrected if wrong, but: 1. The Admous problem was I think exacerbated by certain members not doing succession planning in advance for the eventual deaths of the older property business owners, so they faced a major inheritance tax liability on the death of the main older family member. 2. Most of the major retailer groups will not pay UK capital gains tax as and when they sell their UK properties at a profit (assuming they own the property instead of just renting). This is because of a relief called "rollover relief" which allows deferral of any tax based on the group investing in other UK properties in a set time period. Such capital gains and this deferral relief are separate from the business trading profits against which any payments of business rates will be deductible in computing. |