Distinguish between ‘Rollover Relief’ and ‘Holdover Relief’ and briefly explain whether it is appropriate from the point of view of tax policy to have the two different tax treatments
QUESTION 3 Tielemans Limited has a twelve-month chargeable accounting period (‘CAP’) running from 1 April 2020 to 31 March 2021. The adjusted trading profit for this CAP has already been calculated at £1,800,000 before deduction of capital allowances for plant and machinery. The capital allowance computation for the last CAP closed with written down values […]