Chancery Division.

Lightman J.

Judgment delivered 3 February 1998.

Capital gains tax – Retirement relief – Farm land – Farmer received sum for surrender of agricultural tenancy – Taxpayer farmed land for a further two years without statutory security under licence from landlord – Whether ‘disposal’ on surrender – Whether entitled to relief – Finance Act 1985, s. 69(2) (Taxation of Chargeable Gains Act 1992, s. 163(2)).

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