The position from HMRC's point of view is interesting and important. Motor cars are exempt from capital gains tax. Therefore, if somebody was selling just one, it would not be subject to a profits tax and would be exempt from capital gains tax, so it is quite a good thing to do from a tax point of view.
London Local Authorities Bill [Lords]
Proceeding contribution from
Jacob Rees-Mogg
(Conservative)
in the House of Commons on Tuesday, 21 February 2012.
It occurred during Debate on bills on London Local Authorities Bill [Lords].
About this proceeding contribution
Reference
540 c836Session
2010-12Chamber / Committee
House of Commons chamberSubjects
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