CAPITAL GAINS TAX - 07.07.2020
Inherited assets - who’s liable for capital gains tax?
One of our subscribers is the executor of her mother’s estate. She left some valuable items to her and her sister. She wants to sell several of these to pay debts of the estate. Will there be any tax and if so who’s responsible for it?
CAPITAL GAINS TAX - 22.06.2020
Using CGT losses efficiently
Our subscriber made capital gains from the sale of two assets and losses from the sale of another. The gains are taxable at different tax rates. Can they use the losses to reduce the higher rate tax or how should they be allocated?
CAPITAL GAINS - 28.05.2020
Downsizing your business premises - defer your tax bill
Our subscriber’s business no longer needs such a big premises so he wants to downsize. Despite current market conditions, he expects to get more for the property than he paid for it. Can he avoid a tax bill on the capital gain?
CORONAVIRUS - CAPITAL GAINS TAX - 21.05.2020
Can clients cash in on worthless shares?
With the pandemic taking a heavy toll on businesses across the UK, your investor clients will likely have taken a hit on their share portfolios. But could this mean that they can secure a tax refund to cushion the blow?
BUSINESS ASSET DISPOSAL RELIEF - 21.05.2020
Dilution protection elections: valuing the shares
Your client is a minority shareholder in a company whose shareholding has recently been diluted to below 5%. They are considering making an election to lock in the 10% tax rate. How will the shares be valued, and what trap can you help them avoid?
CAPITAL GAINS TAX - 13.05.2020
Selling your EIS investment too soon
Three years ago you bought shares in an enterprise investment scheme (EIS) company. You’ve received an offer for them which you’re thinking of accepting. You’ve been told it could be costly in terms of tax. What could you expect to pay?