CGT Changes and Proposals on Deep Discount Bonds
In: The Accountant, Jg. 190 (1984-01-12), S. 6
serialPeriodical
Zugriff:
An amendment to the United Kingdoms's Capital Gains Tax Act 1979 was designed to stop schemes that avoided tax by establishing an artificial tax loss. Section 29a was enacted stating that a person's acquisition value of an asset shall not exceed the consideration given by him if there is no corresponding disposal by the transferor, or if the transferor is an 'excluded person'. The proposal on deep discount bonds treats the discount as income over the life of the security on a compound yield basis. The entire profit is counted in the year of redemption if it is held to redemption. But computation is complex if a bond is bought or sold. There is some relief for the borrower, but with anti-avoidance provisions.
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CGT Changes and Proposals on Deep Discount Bonds
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Autor/in / Beteiligte Person: | Lawson, D. |
Zeitschrift: | The Accountant, Jg. 190 (1984-01-12), S. 6 |
Veröffentlichung: | 1984 |
Medientyp: | serialPeriodical |
ISSN: | 0001-4710 (print) |
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