Domain names

Domain names

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Am I correct in stating that a domain name sold at a profit is chargeable to CGT on a Soletrader?

It business asset taper releif availible if it has been used in his business?

Can I claim Hold Over releif?
Simon

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By Accounting WEB
28th Feb 2001 19:19

not done before but..
If one off, I'd agree CGT. It appears some people trade in domain names so...

If used wholly or partly 4 the purpose of his trade then = biz asset. I reckon pop.com used by pop enterprises before sale is OK - but pop.com owned by Jack Jones is hmmmm. May also be dodgy if owned by pop enterprises but not used at all.

Holdover indicates gift relief under 165 or 260 to me. Is that the intention?

Dunno if it qualifies for replacement roll over relief as does not seem to be the right type of asset - unless U can argue that it is sold as "goodwill"!

Once again I am no help at all!!!

Further comments please from anyone with experience of this.


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