Commentary

C1.302 Property coming to be owned without being acquired

Capital gains tax
Capital gains tax | Commentary

C1.302 Property coming to be owned without being acquired

Capital gains tax | Commentary

C1.302 Property coming to be owned without being acquired

Property created by the person disposing of it includes paintings, sculptures, copyrights and patents. Property otherwise coming to be owned without being acquired may include goodwill. These forms of property are all assets1.

It has been argued on behalf of HMRC that a right to compensation conferred by statute is an example of something which could be owned without being acquired. Provision was made in 1969 by statutory instrument for payment of compensation in respect of property confiscated by the USSR several years earlier. It was contended that the right to compensation

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