Imagine now that Ian (in the above example) buys another freehold building for business use in November
Question:
Imagine now that Ian (in the above example) buys another freehold building for business use in November 2023 and elects to transfer the held-over gain on the fixed plant and machinery to the new freehold building. Explain the treatment of the held-over gain if the new building costs:
(a) £250,000
(b) £190,000.
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a The entire proceeds of the sale of the original building hav...View the full answer
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