Tax - Capital gains tax

Recently added Tips & Advice

IN THIS ISSUE: TAKE ADVANTAGE OF TAX BREAKS FOR WOODLANDS - 21.05.2024

Woodlands: tax breaks for landowners

Your client owns land mostly covered by woods. He’s heard that there are tax breaks available if he exploits the land to make profits. He’s correct in principle, but what are the main traps to look out for?
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TRUSTS - 01.05.2024

Tribunal considers CGT relief claim by trustees

Business asset disposal relief (BADR) can be claimed by trustees as well as individual taxpayers. However, as with most trust-related tax matters, there are additional considerations. What did a recent Tribunal case consider in this area?
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CAPITAL GAINS TAX - 30.04.2024

New and improved form for property gains

Reportable gains. If you make a capital gain from the sale or transfer of a UK property on which tax is payable you must declare it to HMRC and pay the tax within 60 days from completion of the sale or transfer. Improved form. A new version of the form is now available from HMRC’s website (see The next step ). It allows you to complete the information on screen before printing and sending the completed form to HMRC. ...
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LOSSES - 30.04.2024

Were capital losses deductible for income tax?

The First-tier Tribunal (FTT) recently considered if an individual was entitled to tax relief for losses when a company he invested in went bust. It ought to have been simple but a refinancing deal complicated matters. What did the FTT decide?
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CAPITAL GAINS TAX - 17.04.2024

Did MP dodge capital gains tax?

A story about Angela Rayner MP and the sale of her property has recently been doing the rounds in the media. The reports suggest that the police are investigating possible tax evasion. Is this justified or just wild speculation?
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PROPERTY - 19.03.2024

Tax implications of property exchanges

A client is looking to downsize and has agreed with a friend to swap their main residence. They also jointly own two investment properties with their brother which may benefit from being separated into sole ownership. What are the key tax issues to consider and will both exchange transactions be treated the same?
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Tax - Capital gains tax

Most read Tips & Advice

CAPITAL GAINS TAX - 17.04.2024

Did MP dodge capital gains tax?

A story about Angela Rayner MP and the sale of her property has recently been doing the rounds in the media. The reports suggest that the police are investigating possible tax evasion. Is this justified or just wild speculation?
Read more

CAPITAL GAINS TAX - 27.02.2024

Real time reporting not being used, says financial press

Recent reports in finance publications suggest that less than 1% of capital gains tax (CGT) is being paid through the real time reporting service. What is this service, and should you advise clients to use it?
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LOSSES - 30.04.2024

Were capital losses deductible for income tax?

The First-tier Tribunal (FTT) recently considered if an individual was entitled to tax relief for losses when a company he invested in went bust. It ought to have been simple but a refinancing deal complicated matters. What did the FTT decide?
Read more

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