CAPITAL GAINS - 22.10.2020
New property disposal guide
Property. Since April 2020 there has been a single system for reporting disposals made by: UK residents realising a gain on UK residential property (or an interest therein) where there is some capital gains tax (CGT) to pay; and non-UK residents making a disposal of any UK land (or an interest therein), irrespective of whether there is any CGT. Guide. The Association of Tax Technicians (ATT) has now published a guide to using the service (see Follow up ). This has been tailored to accountants and tax advisors completing the returns on behalf of clients. ...
COMPANY SALE - 22.10.2020
Selling the company: taxing the consideration correctly
One of your clients has built up their trading company from scratch. They have received an offer for their shares which they are keen to accept, but the purchaser is proposing to issue loan notes as part of the consideration. What do you need to advise?
PRIVATE RESIDENCE RELIEF - 22.10.2020
Buying property in stages: a risk to tax relief?
Property purchase is an area in which HMRC is taking more interest and transactions that look out of the ordinary may attract unwelcome compliance attention. Why do clients buying multiple properties in stages run a particular risk?
CAPITAL GAINS TAX - 21.10.2020
Has working from home landed you with a CGT bill?
The coronavirus lockdown has raised the thorny question of how capital gains tax private residence relief might be affected if you work from home as a result. Is this something you should be concerned about?
BUSINESS ASSET DISPOSAL RELIEF - 24.09.2020
How to secure business asset disposal relief on property
Your client is a higher rate taxpayer. He is looking to sell some of his let property portfolio within the next four years. What can you advise him to do to potentially save 18% on the eventual tax bill?
TAX - 22.09.2020
Closing or selling your company - shifting capital gains tax
If you’re closing your company or selling your shares in it you’ll have to pay tax on any capital gain you make. How can you share the gain with your spouse or other family member to reduce the overall tax bill?