capital taxation Archives - Page 10 of 23 - Whitefield Tax - Isle of Wight Accountants

Entrepreneurs’ relief – the importance of trading activities even when suspended

by Jessica Garbett | Nov 28, 2019 | ACCA, business taxation, capital taxation

A must read case for entrepreneurs’ relief. Entrepreneurs’ relief (ER) reduces the rate of capital gains tax (CGT) on disposals of certain business assets from 20% to 10%. The recent first-tier tribunal case of Potter [2019] UKFTT 0554 (TC) re-emphasises the...

Private residence relief when property is transferred between spouses.

by Jessica Garbett | Oct 22, 2019 | ACCA, capital taxation

If a residence is transferred between spouses or between civil partners, the period of ownership of the transferee begins at the start of the period of ownership of the transferor. If a residence is transferred between spouses or between civil partners, who are living...

Deeds of Variation for a Will

by Jessica Garbett | Oct 15, 2019 | ACCA, capital taxation

How beneficiaries can vary the outcome of a will. When to consider A deed of variation (also known as a deed of family arrangement) may be appropriate to consider either when there is a will or when someone dies intestate (without a will). If the beneficiaries (or at...

Taxation of shares transferred to a director or employee

by Jessica Garbett | Oct 11, 2019 | ACCA, business taxation, capital taxation, personal taxatation

Understanding how to account for employee securities and shares. Shares in companies are commonly used by employers to remunerate directors and employees. These are sometimes transferred under a formal plan which may have written rules which specify when and how many...

Land transaction taxes in Wales

by Jessica Garbett | Oct 7, 2019 | ACCA, capital taxation, property taxation

Key elements to remember in updated technical guidance. The technical guidance covering land transaction taxes in Wales, including alternative property finance relief, has been updated. It is important to remember some of the basic conditions on the second property...

Simple ways to reduce inheritance tax (IHT)

by Jessica Garbett | Aug 30, 2019 | ACCA, capital taxation

The ACCA share these top tips IHT is a tax on the value of the estate at death but also on chargeable transfers made with various reliefs available. When discussing matters with clients, care is required both during the lifetime and after death. Consider using these...

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Entrepreneurs’ relief – the importance of trading activities even when suspended

Private residence relief when property is transferred between spouses.

Deeds of Variation for a Will

Taxation of shares transferred to a director or employee

Land transaction taxes in Wales

Simple ways to reduce inheritance tax (IHT)

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