New 30 day reporting and payment rules for Capital Gains Tax due on the sale of residential property
From April 2020, there are changes to how long you have to pay your Capital Gains Tax (CGT) when selling residential property.
The Chancellor overhauls Entrepreneurs’ Relief in Budget
The Chancellor announced in the Budget that he will overhaul Entrepreneurs’ Relief. The lifetime allowance on claims from the relief will be reduced by 90% going down from £10m to £1m — a move the Chancellor said would save £6bn per year.
Do you know about Business Asset Rollover Relief?
Business Asset Rollover Relief allows you to delay your payment of Capital Gains Tax (CGT) if you dispose of business assets and use all or part of the proceeds to buy new business assets.
Capital Gains Tax: Private Residence Relief and Letting Relief Changes
Draft legislation to be included in the next Finance Bill will make important changes to the calculation of Capital Gains Tax (CGT) Private Residence Relief and Letting Relief.
Do you own property that is being, or has been, used in your business? Don’t get caught out!
How property used in a business is held, can have a significant impact on your tax position.
Possible changes to Capital Gains Tax Private Residence Relief
The government is currently consulting on important changes to Private Residence Relief that are likely to be introduced from 6 April 2020.