Incorporation relief
When a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market
Capital Gains Tax exemptions
As with Income Tax personal allowances, taxpayers have an annual exempt amount for Capital Gains Tax (CGT) which is forfeited if not used. The annual exemption for individuals in
Tax when you sell shares
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% when you sell shares unless they are in a CGT free wrapper such as an ISA or pension.
If you only pay
Basics of CGT Rollover Relief
Business Asset Rollover Relief is a valuable relief that allows you to defer payment of CGT on gains made when you sell or dispose of certain assets and use all or part of the
What is Tangible Moveable Property?
A chattel is a legal term that defines an article which is a tangible moveable property. A tangible object is one that you can touch. The asset has to be a physical asset such as
Do you owe CGT on the sale of a residential property?
HMRC has issued a press release to remind taxpayers that have sold a residential property, which was not their main home, during the 2019-20 tax year that the payment date for any
Business Asset Disposal Relief
Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The relief was renamed in Finance Act 2020. The name change does not affect the
Taxable business gains
If you are in business as a self-employed sole trader or as part of a partnership, there may be occasions when you are required to pay Capital Gains Tax (CGT). CGT is normally
Donating land, property or shares to a charity
There are special rules in place for taxpayers who gift land, property or certain shares to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the
Nominating a principal private residence
There is usually no Capital Gains Tax (CGT) due on a property which has been used solely as the main family residence. Conversely, an investment property which has never been used