Economics · Capital Gains Tax
In deciding whether Hali and Goma's future disposals of their shareholdings in Lima Ltd will qualify for Business Asset Disposal Relief (BADR) under UK tax law, which one of the following conditions is strictly mandatory?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1The qualifying conditions must be met for a continuous period of at least five years prior to disposal
- 2Hali and Goma must individualy hold at least 10% of the ordinary share capital each
- 3Lima Ltd must be a trading company (or the holding company of a trading group)✓
- 4Hali and Goma must both be full-time managing directors of Lima Ltd
Correct answer
Lima Ltd must be a trading company (or the holding company of a trading group)
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Capital Gains Tax MCQs →Want more practice questions on Capital Gains Tax?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Capital Gains Tax