Many landlords are deciding to sell their residential properties. What are their options for taxes and reliefs?
Important changes will come into force in April 2020 which relate to tax relief that is due on the sale of property which was previously a taxpayer’s Principle Private Residence “PPR” during any point in the period of its ownership.
Most people understand that when you sell your main home the profit you make on the sale is exempt from tax
When you sell your only or main home, you expect any gain you make to be free of CGT, but …
When you sell a business or shares in your personal company, the gain made on that disposal will normally qualify for entrepreneurs’ relief which applies capital gains tax (CGT) at 10%.
My client has recently sold his family company, realising a significant gain and using all of his Capital Gains (CGT) Tax Entrepreneurs’ Relief lifetime allowance in the process. Although he has stepped back from active involvement, he is considering investing a significant amount of money in a trading company and has told me he would […]
The 2013 Autumn Statement included an announcement that non-resident owners of UK residential property would become liable to capital gains tax for disposals after 5 April 2015.
Have you made a gain from the sale of a property that you did not occupy as your home? If so, did you report the disposal upon your Tax Return?
We sometimes get asked about how to dispose of reserves of a company when it has ceased trading – here are some options when closing down a company