capital taxation Archives - Page 7 of 22 - Whitefield Tax - Isle of Wight Accountants

A Handy Guide to Ten Common Tax Elections and Claims from ACCA

by Jessica Garbett | Dec 4, 2020 | ACCA, business taxation, capital taxation, personal taxatation

We look at some of the more common elections and claims which are useful tax planning or compliance tools. Some of these claims have strict time limits which should be given due consideration to avoid missing any deadlines. 1. Form 17 (Declaration of beneficial...

Could PPR relief and BPR disappear soon?

by Jessica Garbett | Nov 10, 2020 | ACCA, capital taxation

News that the government is preparing the ground for IHT and CGT reforms has been circulating for some time. Whilst the introduction of reform is yet to be announced, due to the Budget being delayed and the extent of tax changes required due to the impact of covid-19,...

Business assets disposal relief

by Jessica Garbett | Jun 24, 2020 | ACCA, capital taxation

Apart from its name, what else has changed with regards to entrepreneurs’ relief? Since its introduction in 2008, the lifetime limit for entrepreneurs’ relief had steadily increased to £10m until 10 March 2020. However, at Budget 2020 the Chancellor announced...

IHT exemption – Emergency Responders – Volunteers and Employees

by Jessica Garbett | Jun 22, 2020 | ACCA, capital taxation, Covid19

Inheritance Tax Act 1984 S153A provides an exemption from Inheritance Tax for an emergency responder whose death occurs as a result of responding to emergency circumstances. The exemption applies where the death results from: an injury sustained, accident occurring,...

CGT and the disposal of residential properties

by Jessica Garbett | Jun 17, 2020 | ACCA, capital taxation

A walk-through of the real time capital gains tax service. From 6 April 2020, UK residents within the charge to capital gains tax (CGT) face yet another change for direct disposals on residential properties – a return and payment of CGT has to be made within 30 days...

Budget: CGT – reduction in Entrepreneurs’ Relief lifetime limit

by Jessica Garbett | Mar 13, 2020 | ACCA, budget, capital taxation

Significant cut to lifetime limit – but not quite abolition. Effective immediately (from 11 March 2020) the lifetime limit on gains eligible for Entrepreneurs’ Relief (which offers a reduced 10% rate of CGT on qualifying disposals) will be reduced from £10m to £1...

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A Handy Guide to Ten Common Tax Elections and Claims from ACCA

Could PPR relief and BPR disappear soon?

Business assets disposal relief

IHT exemption – Emergency Responders – Volunteers and Employees

CGT and the disposal of residential properties

Budget: CGT – reduction in Entrepreneurs’ Relief lifetime limit

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