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I apportioned the gain as well but to reflect the time the Factory A has not been used for business. I then used it against Factory B, cause I thought this 30% of a warehouse not being used for business is not right for the rollover relief. But the factory A wasn’t used whole time in the business too, so I was very very confused what to do here.
rachelmin wrote:Not sure if this is right but I apportioned the gain for the time is was used in business and said this can be transferred as rollover relief. It should be offset against the warehouse as the FACTORY B would be treated as a sale of no gain no loss and lowering the base cost even more could lead to a high regrouping hchsrge if they separate so better held against the warehouse purchase
I apportioned the gain as well but to reflect the time the Factory A has not been used for business. I then used it against Factory B, cause I thought this 30% of a warehouse not being used for business is not right for the rollover relief. But the factory A wasn’t used whole time in the business too, so I was very very confused what to do here.
Anyone know to solve the question with Factory A, B, warehouse and this rollover relief?
For question 1 trading losses I did:
1) Incorporation relief for Lucia’s first income from incorporated company and the chargeable gain deferral
2) Prior years profits – set off against trading profits in previous year – only one year back
3) Set off against her chargeable gain from cottage in cessation year
Think this is okay but not sure about the chargeable gains relief
