Capital Gains Tax

An update on Capital Gains Tax (CGT).

Tax relief for Landlords

January 18th 2017

New rules start to take effect from 6 April 2017 which restrict the amount of tax relief that landlords can claim in respect of interest and other finance costs. For 2016/17 and earlier tax years the rules are simple - you just deduct any mortgage interest and any finance costs from your rental income when working out your taxable profit.

Capital Gains Tax (CGT) planning 2016-17

January 10th 2017

This is also an appropriate time of the year to consider your CGT position if you have already disposed of (or are considering a disposal) of an asset subject to CGT during 2016-17.

Success at our property tax seminar

October 6th 2016

Last month we ran a FREE one-off technical seminar to help our clients legitimately avoid paying property tax.

Buy-to-let landlords action required - Income Tax

August 9th 2016

Buy-to-let landlords need to start considering their options, in particular, those who have borrowed heavily in order to build their property portfolio.

Capital Gains Tax (CGT) changes

April 14th 2016

CGT rates have been significantly reduced from April 2016.

Capital Gains Tax (CGT) planning

February 5th 2016

Most of our readers will be aware that they can make chargeable gains of up to £11,100 in the tax year 2015-16 and pay no CGT. This exemption cannot be transferred to a future tax year or carried back to a previous tax year if it is not utilised.

Budget Summary - Business Tax Matters

March 20th 2015

George Osborne has presented his 6th and final Budget before the coming election in May. We have summarised below some of the Business Tax matters:

You home and capital gains tax

February 18th 2015

Last year we warned that the Government intended to abolish, with effect from April 2015, a homeowner’s right to elect which of two or more properties he owns (or has the use of) is to be treated as his ‘principal private residence’ and so exempt from capital gains tax. We are pleased to report that the Government has now withdrawn this proposal. Instead, there is to be a new rule...

Your Home and Capital Gains Tax

October 7th 2014

The Government seems to have a policy of whittling away at the traditional capital gains tax exemption for a homeowner’s own ‘principal private residence’. In April this year, the rule that the last three years of ownership qualified for exemption, even if the homeowner no longer lived in the property, was amended to halve the qualifying period to eighteen months. And from April next year, the homeowner’s right to elect which, of two (or more) properties he owns, shall be treated as his ‘principal private residence’ is to be abolished. Instead, there will be a factual test - which property really was his main home? - but quite how this will work is not yet clear.