by | May 25, 2023 | Capital Gains Tax
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and may be subject to Income Tax. If certain conditions are met, the payment can be treated as an exempt distribution. An exempt distribution is a payment...
by | May 18, 2023 | Capital Gains Tax
The Capital Gains Tax (CGT) rules that apply during separation and divorce changed for disposals that occur on or after 6 April 2023. These changes extended the period for separating spouses and civil partners to make no gain/no loss transfers for up to three...
by | Apr 13, 2023 | Capital Gains Tax
In general, there is no Capital Gains Tax (CGT) due on the disposal of a property which has been used as the main family residence. This relief from CGT is commonly known as 'private residence relief'. However, where all or part of the home has been rented out...
by | Apr 6, 2023 | Capital Gains Tax
The annual exempt amount applicable to Capital Gains Tax (CGT) has been reduced to £6,000 (from £12,300) for the new 2023-24 tax year. CGT is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made by individuals. If...
by | Apr 6, 2023 | Capital Gains Tax
The Shares and Assets Valuations (SAV) team is a special section of HRMC that deals with enquiries in respect of the valuations of unquoted shares – shares of companies which are not quoted, listed or traded on the stock exchange for taxation purposes. The...
by | Mar 2, 2023 | Capital Gains Tax
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 investment such as an ISA or qualifying pension. If you only pay basic rate tax and make a small capital gain, you may only be subject to...
