capital taxation Archives - Page 9 of 22 - Whitefield Tax - Isle of Wight Accountants

Part disposal of land and capital gain tax

by Jessica Garbett | Jan 13, 2020 | ACCA, capital taxation

An overview with examples together with consideration of when a s242 can apply. The first consideration is: has a disposal occurred? There is no statutory definition of ‘disposal’, so the word must be given its normal meaning. HMRC’s capital gains tax manual CG 10240...

How to save IHT on a property portfolio

by Jessica Garbett | Dec 2, 2019 | ACCA, business issues, capital taxation, property taxation

We examine legislation which allows you to save money when making inheritance tax provision on properties. It is a well-known saying that ‘inheritance tax is a tax that you choose to pay’. This is because you elect not to take any action while you are able to,...

Entrepreneurs’ relief – the importance of trading activities even when suspended

by Jessica Garbett | Nov 28, 2019 | ACCA, business taxation, capital taxation

A must read case for entrepreneurs’ relief. Entrepreneurs’ relief (ER) reduces the rate of capital gains tax (CGT) on disposals of certain business assets from 20% to 10%. The recent first-tier tribunal case of Potter [2019] UKFTT 0554 (TC) re-emphasises the...

Private residence relief when property is transferred between spouses.

by Jessica Garbett | Oct 22, 2019 | ACCA, capital taxation

If a residence is transferred between spouses or between civil partners, the period of ownership of the transferee begins at the start of the period of ownership of the transferor. If a residence is transferred between spouses or between civil partners, who are living...

Deeds of Variation for a Will

by Jessica Garbett | Oct 15, 2019 | ACCA, capital taxation

How beneficiaries can vary the outcome of a will. When to consider A deed of variation (also known as a deed of family arrangement) may be appropriate to consider either when there is a will or when someone dies intestate (without a will). If the beneficiaries (or at...

Taxation of shares transferred to a director or employee

by Jessica Garbett | Oct 11, 2019 | ACCA, business taxation, capital taxation, personal taxatation

Understanding how to account for employee securities and shares. Shares in companies are commonly used by employers to remunerate directors and employees. These are sometimes transferred under a formal plan which may have written rules which specify when and how many...

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Part disposal of land and capital gain tax

How to save IHT on a property portfolio

Entrepreneurs’ relief – the importance of trading activities even when suspended

Private residence relief when property is transferred between spouses.

Deeds of Variation for a Will

Taxation of shares transferred to a director or employee

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