capital taxation Archives - Page 16 of 22 - Whitefield Tax - Isle of Wight Accountants

The cost of getting the wrong structure: entrepreneurs’ relief

by Jessica Garbett | Nov 8, 2017 | ACCA, business taxation, capital taxation, enquiries and tax disputes

A recent first tier tribunal decision concerned entrepreneurs’ relief and whether redeemable shares with no right to a dividend impacted the relief available. The case outcome was dependent on the share capital and ownership conditions not being met. The judgement...

Inheritance tax and how to reduce it

by Jessica Garbett | Nov 3, 2017 | capital taxation

There are a number of steps that need to be understand to ensure that they receive HMRC allowances. Inheritance tax is charged at 40% on the value of the deceased estate which exceeds the threshold, currently £325,000. If the deceased left his/her home to children or...

60 second update: capital gains and chattels

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

As the tax return deadline approaches, benefit from a refresher on CGT and chattels. Chattels are defined as ‘tangible moveable property’. They include, art, antiques, jewellery, fine wine, racehorses and other collectibles and fall into two groups – wasting and...

Principal Private Residence Relief (PRR) and off-plan home purchases

by Jessica Garbett | Oct 2, 2017 | ACCA, capital taxation

Principal Private Residence Relief (PRR) and off-plan home purchases – When the signing of a contract does not result in ownership! The recent case of Desmond Higgins v HMRC shows that confusion can still exist.In Desmond Higgins v HMRC [2017] TC 05724 the...

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...

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Next Entries »

The cost of getting the wrong structure: entrepreneurs’ relief

Inheritance tax and how to reduce it

60 second update: capital gains and chattels

Principal Private Residence Relief (PRR) and off-plan home purchases

CGT loss relief when a taxpayer dies

Quick second update: capital gains tax relief for let property

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