BAD timing: the need for clarity

Keith Gordon looks at a case which considers the enti tlement of trustees to Business Asset Disposal Relief

Business asset disposal relief (previously known as entrepreneurs’ relief) has many critics. However, its one saving grace is that the legislation is relatively clear, written in the style that was developed by the Tax Law Rewrite Project around the turn of the millennium. For example, rather than relying on a series of interconnected deeming provisions, the rules for the three separate strands of the relief are dealt with in separate sections, each setting out in clear terms when relief is available.