Commentary

C2.227 Foreign tax

Capital gains tax
Capital gains tax | Commentary

C2.227 Foreign tax

Capital gains tax | Commentary

C2.227 Foreign tax

In so far as relief is not given for double taxation (see C1.615), foreign tax borne on the disposal of an asset by the person making the disposal is allowable as a deduction in the computation of the gain or loss. Where the amount of any deduction allowed is rendered excessive or insufficient by reason of any adjustment made after 20 March 2000 of any tax payable either in the UK or under the law of any other territory, the time limit for revising the UK liability accordingly is extended to six years after the time when

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