Utilising Capital Gains Tax losses
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the
Business asset disposals taxed at 10%
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership.
Tax when you sell property
The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £6,000 and is set to be reduced to £3,000 from April 2024. CGT is
Share buy-back clearance applications
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and be subject to Income Tax. However, if certain
Capital Gains Tax and trusts
A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets - such as land, money and
When you don’t have to pay Capital Gains Tax
In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There
Working out capital gains
As with the Income Tax personal allowances, taxpayers have an annual exempt amount for Capital Gains Tax (CGT) which is forfeited if not used. The
Selling overseas property
As a general rule, if you are resident in the UK, you are liable to pay Capital Gains Tax (CGT) when you sell (or dispose
Using Capital Gains Tax losses
If you sell an asset for less than you paid for it, you would make a capital loss. As a general rule if the asset