| Commentary

23.1 Calculating the gain or loss

| Commentary

23 Limited companies

23.1 Calculating the gain or loss

In the event of a company disposing of a chargeable capital asset, the gain or loss will be calculated in a similar way to that of a sole trade or partnership. In other words, the company is entitled to deduct the same types of allowable expenditure from the consideration received on the disposal. The major difference between calculating a company’s chargeable gain and an individual’s used to be the fact that companies could not claim the benefit of taper relief1. Instead, the company could claim an indexation relief in respect of all

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial