Search Results for "Capital Gains Tax"

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Utilising Capital Gains Tax losses

Utilising Capital Gains Tax losses

Capital losses can offset gains in taxation, with treatment depending on factors like assessment year, death year, or special cases. Flexibility allows loss offsetting up to 4 years after the asset’s disposal. Unused losses can be carried forward for future gains when they exceed the CGT exempt amount.

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Capital Gains Tax and trusts

Capital Gains Tax and trusts

A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets – such as land, money and shares – held by the trust. The person who places assets into a trust is known as a settlor and the trust is for the benefit

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Capital Gains Tax

Capital Gains Tax

This factsheet covers when Capital Gains Tax is payable, how much is payable on chargeable gains, making a capital gain, owning assets in a company and other reliefs and factors to consider.

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Current Capital Gains Tax rates

Current Capital Gains Tax rates

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made by individuals. If taxpayers only pay basic rate tax and make a small capital gain, they may only be subject to a reduced rate of

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Company tax return obligations

Company tax return obligations

After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. In most cases a company’s tax return must be submitted within 12 months from the end of the accounting period it covers. Online

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Tax when you sell property

Tax when you sell property

The UK’s annual Capital Gains Tax (CGT) exemption will reduce from £6,000 to £3,000 in April 2024. CGT rates vary, with higher rates for property sales, excluding principal residences. A 60-day deadline applies for CGT payments on residential property sales.

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Tax on property you inherit

Tax on property you inherit

Inheriting property? Understand the tax implications with this comprehensive guide. Learn about Inheritance Tax, Stamp Duty, Income Tax, Capital Gains Tax, and more to help you make informed decisions to manage your inherited property tax efficiently.

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