by | Mar 6, 2025 | Capital Gains Tax
A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering flexibility in managing tax liabilities. A negligible value claim is a claim made by a...
by | Mar 6, 2025 | Capital Gains Tax
From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to 18% in 2026. Business owners planning to sell may benefit from acting before these changes take effect. Currently, Business Asset Disposal Relief (BADR)...
by | Mar 6, 2025 | Capital Gains Tax
Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting Relief, and exemptions impact your tax liability. If you have tenants in your home, it is...
by | Feb 13, 2025 | Capital Gains Tax
Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset transfers. New rules from April 2023 extend the ‘no gain/no loss’ period, helping spouses manage tax efficiently. Private Residence Relief may also...
by | Jan 23, 2025 | Capital Gains Tax
Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this relief can optimise your...
by | Jan 23, 2025 | Capital Gains Tax
Owning more than one property? You can claim Capital Gains Tax (CGT) relief on just one at a time. By formally electing your main residence within two years of property changes, you can optimise your CGT exemption and make the most of key tax benefits. Taxpayers who...
