Postby Feedback » Wed Oct 10, 2018 3:03 pm
Thanks, that makes sense
so if there are two brothers, one who owns land, and one who owns a trading company, which he is planning on selling. the trading company leased the land from the first brother.
ER is available to the second brother and not the first (assumption here is that qualifying conditions are satisfied). The second brother has owned and worked in the trading company for more than one year (actually for many years). If the first brother gifts the land to his sibling before the company shares or business are sold, can the second brother claim ER on the rise in land value, as the land has been used wholly and exclusively in the business that was sold?
I would think HMRC would take a dim view of such a gift, being contrived for tax purposes.