BlogCapital Gains Tax- What’s In The Small Print?The recent budget introduced some highly anticipated changes to Capital Gains Tax (CGT). The expected alignment of Capital Gains Tax rates with Income Tax rates didn’t materialise and instead, the government opted for more modest increases in the rates. These…More
Blog60 Day Capital Gains Tax Reporting – The Rules RecapAlmost a year on from the extension of the timeframe for reporting disposals of residential property our blog provides a recap of the rules on what exactly needs reporting, who needs to report it, how is it reported, when is…More
BlogChanges to Capital Gains Tax for separating couplesUnder the current Capital Gains Tax regime in the UK there are rules in place to allow for transfers of assets between spouses to be deemed to take place at no gain/no loss for Capital Gains Tax (CGT) purposes. That…More
BlogCapital Gains Tax – Is a rate increase on the horizon?Before the scheduled Autumn budget, advisors and taxpayers alike were bracing themselves for a hike in the rate of Capital Gains Tax (“CGT”) as well as the very real possibility that some reliefs might be withdrawn altogether, for example Business…More
BlogCapital Gains Tax – What will be the ‘next normal’?Since March 2020, the UK government has provided significant financial support to families and businesses to help support them through the COVID-19 pandemic. Although the country is not out of the woods yet, the economy is starting to reopen and…More
BlogCapital Gains Tax – HMRC consulting on upcoming UK property changesOn 1 April, HMRC opened a new consultation on the upcoming changes to the taxation of property disposals made by individuals. Please see our recent blog, “UK Property – Important taxation changes on the way”, for the background of the…More
BlogUpdate to Non Resident Capital Gains Tax RulesFrom April 2019, HMRC have proposed that new Capital Gains Tax provisions will apply to the disposal of all UK land and buildings for all non-UK resident individuals, companies, personal representatives and trusts. This is an extension of the existing…More
BlogNew tax trap for Expats selling UK property – Non Resident Capital Gains TaxNon UK tax residents are generally not liable to UK Capital Gains Tax however when it comes to residential property sales there is a specific regime with short reporting deadlines and stiff penalties for failure to disclose.More