Question
Sunil plans to dispose of a large number of sporting goods and memorabilia in the tax year 2019/20. He believes that he will be able
Sunil plans to dispose of a large number of sporting goods and memorabilia in the tax year 2019/20. He believes that he will be able to sell the items to his sister, Prisha, using selling prices that do not reflect their market value. Sunil believes that this will allow him to avoid capital gains tax and to create losses that he will be able to offset against future capital gains.
Question: Critically discuss Sunil Kohlis plans to avoid capital gains tax by selling items to his sister at selling prices that do not reflect the market value of those items.
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