capital taxation Archives - Page 10 of 21 - Whitefield Tax - Isle of Wight Accountants

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...

The tax cost of extracting a property from a company

by Jessica Garbett | Jun 25, 2019 | ACCA, business taxation, capital taxation, property taxation

Extracting a property from a company back into private beneficial ownership may be a costly affair. Buying an investment property via a limited company is commonly used to mitigate the impact of s24 finance cost restriction affecting landlords of residential...

SDLT and Dilapidated Residential Property

by Jessica Garbett | May 20, 2019 | ACCA, capital taxation, property taxation

A current Tribunal case could open up challenges over other SDLT bills. In PN Bewley Ltd v HMRC, 2019 UKFTT 0065 TC, the first tier tribunal ruled that higher rate stamp duty does not apply to the purchase of a buy to let property that is too dilapidated to be...

Tricks and traps of associated disposals

by Jessica Garbett | May 9, 2019 | ACCA, capital taxation

Examining the application of entrepreneurs’ relief to associated disposals. This relief is given to a shareholder and partner on disposal of assets held privately and used in the trade of their personal company or partnership, when qualifying conditions are met....

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Principal Private Residence Relief – Changes from April 2020

Changes to Capital Gains Tax on Sale of Property

Maximising entrepreneurs’ relief for directors/shareholders

The tax cost of extracting a property from a company

SDLT and Dilapidated Residential Property

Tricks and traps of associated disposals

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