by Admin | Jun 22, 2023 | Capital Gains Tax
Gift Hold-Over Relief is a tax relief that results in a deferral of Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for less than they are worth to help benefit the buyer. The relief means that any gain...
by Admin | Jun 8, 2023 | Capital Gains Tax
If you sell an asset for less than you paid for it, you would make a capital loss. As a general rule if the asset would have been liable to CGT had a gain taken place, then the loss should be an allowable deduction. These allowable losses are deducted...
by Admin | Jun 1, 2023 | Capital Gains Tax
In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. An investment property which has never been used will not qualify. This relief from CGT is commonly known as private residence relief. Taxpayers are usually...
by Admin | May 25, 2023 | Capital Gains Tax
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and may be subject to Income Tax. If certain conditions are met, the payment can be treated as an exempt distribution. An exempt distribution is a payment...
by Admin | May 18, 2023 | Capital Gains Tax
The Capital Gains Tax (CGT) rules that apply during separation and divorce changed for disposals that occur on or after 6 April 2023. These changes extended the period for separating spouses and civil partners to make no gain/no loss transfers for up to three...
by Admin | Apr 13, 2023 | Capital Gains Tax
In general, there is no Capital Gains Tax (CGT) due on the disposal of a property which has been used as the main family residence. This relief from CGT is commonly known as 'private residence relief'. However, where all or part of the home has been rented out...
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