capital taxation Archives - Page 17 of 23 - Whitefield Tax - Isle of Wight Accountants

CGT loss relief when a taxpayer dies

by Jessica Garbett | Aug 29, 2017 | ACCA, business taxation, capital taxation, personal taxatation

What to consider when it comes to CGT losses, including worked example. Losses are always an area that requires consideration. The basic rules regarding capital gains tax are: no liability to capital gains tax arises on death. The personal representatives are...

Quick second update: capital gains tax relief for let property

by Jessica Garbett | Jul 13, 2017 | ACCA, capital taxation, property taxation

Gathering information in advance is advisable Let property relief can reduce capital gains tax and is an important consideration when clients have let out residential property. The information needed can be difficult to find out and it is often easier to collect in...

A garden by any other name – CGT Permitted Area

by Jessica Garbett | Jul 10, 2017 | ACCA, capital taxation, property taxation

The ‘permitted area’ around a residential property qualifies for private residence relief from capital gains tax The area of garden and grounds of a person’s residence that qualifies for capital gains tax relief is referred to in the legislation as the ‘permitted...

IHT changes on the horizon

by Jessica Garbett | Jun 1, 2017 | ACCA, capital taxation

Inheritance tax threshold increased to £1m by 2020-21. From 6 April 2017, a new inheritance tax Residence Nil Rate Band (RNRB) is available (in addition to an individual’s own nil rate band (NRB) of £325,000), conditional on the family home being passed down to...

Non-dom IHT changes come into force

by Jessica Garbett | May 3, 2017 | ACCA, capital taxation, personal taxatation

Changes bring tax treatment into line with UK-domiciled residents. We are on the verge of the implementation of the changes to the non-domicile (‘non-dom’) regime announced in the summer 2015 Budget. Until now, offshore companies, whose shares have been classed as...

Residential IHT nil-rate band increases

by Jessica Garbett | Mar 29, 2017 | ACCA, capital taxation

Changes could lead to a saving of up to £140,000. When the government increased the nil-rate band in 2009 to £325,000, it forecast that it would remain the same until 5 April 2021. But in the summer Budget 2015, the government announced it would phase in a new...

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CGT loss relief when a taxpayer dies

Quick second update: capital gains tax relief for let property

A garden by any other name – CGT Permitted Area

IHT changes on the horizon

Non-dom IHT changes come into force

Residential IHT nil-rate band increases

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