Chancery Division.

Mummery J.

Judgment delivered 16 January 1992.

Capital gains tax – Lease – Wasting asset – Lease with unexpired term less than 50 years regarded as wasting asset – Whether right to extended lease under Leasehold Reform Act 1967 prevented remaining 16 years of lease being a wasting asset – Capital Gains Tax Act 1979, Sch. 3, para. 1 and 8(5)(6).

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