capital taxation Archives - Page 10 of 22 - Whitefield Tax - Isle of Wight Accountants

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...

IHT Simplification Proposals

by Jessica Garbett | Aug 28, 2019 | ACCA, capital taxation

The Office of Tax Simplification (OTS) has presented a report to Parliament pursuant to section 186(4) (b) of Finance Act 2016 for simplifying the design of Inheritance Tax (IHT). Within this report, the OTS has outlined 11 recommendations to provide clarity and...

Principal Private Residence Relief – Changes from April 2020

by Jessica Garbett | Aug 23, 2019 | ACCA, capital taxation, personal taxatation, property taxation

The Finance Bill 2019/20 contains new rules on PPR relief. PPR relief is amended for disposals (exchange of contracts) on or after 6 April 2020. In summary, be aware of the following: PPR entitlement will be restricted during the final period of ownership to a period...

Changes to Capital Gains Tax on Sale of Property

by Julie Barrett | Aug 2, 2019 | capital taxation

There are changes coming into force next April which will affect those selling a property that was once their Principal Private Residence (PPR) You pay tax on your ‘chargeable gains’, i.e. your gains net of any PPR relief you are eligible for if you have occupied the...

Maximising entrepreneurs’ relief for directors/shareholders

by Jessica Garbett | Jul 10, 2019 | ACCA, capital taxation

How to maximise entrepreneurs’ relief and reduce your tax bill when establishing a personal company. Split business ownership to benefit from increased lifetime limits Consider sharing the ownership with a spouse or family member to extend the benefit of all...

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Land transaction taxes in Wales

Simple ways to reduce inheritance tax (IHT)

IHT Simplification Proposals

Principal Private Residence Relief – Changes from April 2020

Changes to Capital Gains Tax on Sale of Property

Maximising entrepreneurs’ relief for directors/shareholders

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