In 2008, halving relief was abolished for individuals.
My client was given a property in 1988 and gifts holdover relief was claimed at the time. The property had been owned prior to 31/3/82 by the donor.
This question has been asked before (a long time ago) but no one seemed to know the answer then and I can't find the answer now...
What is the base cost of the property now?
Mar 82 value?
value in 1988 less heldover gain (without the benefit of halving relief)?
I would really welcome any sensible comments! I can't find anything. It seems to be glossed over in all of the reference books and manuals I have looked at.....