The following Corporation Tax guidance note by Tolley in association with Martin Wilson, the Capital Allowances Partnership Limited provides comprehensive and up to date tax information covering:
Many provisions relating to capital allowances are disapplied or varied where the parties to a transaction are connected.
An individual is connected with a person if that person is:
‘Relative’ means a brother, sister, ancestor or lineal descendant. ‘Lineal descendant’ will include any descendant of the spouse by a previous marriage though not a later marriage.
A trustee of a settlement is connected with:
A body corporate is deemed to be connected with a settlement in any year of assessment if at any time in that year:
Except in relation to acquisitions or disposals of partnershi
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