If an individual purchases a shop for say £25km in 1980, used it to trade from within their business until 1990, then rented the property out and stops trading, am I right in the following:
no Indexation allowance as the gain is proceeds less MV at Mar 82?
Also entrepreneur's relief not available?
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Yes...
... you are right. You seem to be confusing pounds and kilometres though.:)
I assume that the property is rented to a third party, rather than, say, the individual's personal company?
Just to clarify, the reason why there is no indexation allowance is that it was abolished for individuals several years ago.