Page 13 - P6 Slide Taxation - Lecture Day 5 - Groups
P. 13
In the hands of the resident company
disposes of
asset(s)
Person Resident company
Disposes of capital asset Acquires as capital asset
(incl. an allowance asset) (as capital or allowance
asset)
original date of acquisition;
expenditure incurred; and Normal tax &
any valuation of asset. CGT details for resident
company
All the acquisition details of the asset are transferred to the resident company
for purposes of normal tax (i.e. capital or wear and tear allowances and future
recoupments) & CGT.
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