Category Archives: Capital Gains Tax

HMRC’s internal manuals states that the word `trust’ describes a relationship between certain persons

which is recognised by the law;
concerned with particular property; and
enforceable by

In the Autumn Statement, the Chancellor announced that the annual exempt amount applicable to Capital Gains Tax (CGT) is to be more than halved next year. This rate had previously been fixed at

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 is, however, still a disposal that has taken place for CGT purposes

In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. This relief from CGT is commonly known as private residence relief.

However, there are

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 asset would have been liable to CGT had a gain taken place then the loss should be

In general, there is no CGT payable on a property disposal which has been used as the main family residence. An investment property which has never been used as a private residence will not qualify.

Where 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 value of the business

Business Asset Rollover Relief, usually referred to as ‘rollover relief’, is a valuable relief that allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of

The definition of a connected person for tax purposes can be complex and varies depending on the circumstances at hand. A statutory definition of “connected persons” for Capital Gains Tax