Reply To: Capital – business asset

#8326
petedavies
Participant

I think the first stage is to establish for certain whether the company has ceased trading, if no 49(5) applies.

If so, I can see no way of disregarding it – the capital value is the value of the company rather than the property (even though they are probably pretty much identical).

Your claimant cannot dispose of the property in his own right, he is acting for the company.

It may be possible to argue that he is the owner in substance if not form but methinks not. What does the land reg say?

I do not think there was meant to be a distinction otherwise the word “dwelling” would have been used.

Maybe the heats getting to me as well but innit para 26?