Search Results for "Capital Gains Tax (CGT)"

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Filing your tax return early

Filing your tax return early

The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be happy to leave dealing with their 2023-24 tax returns until later this year or even until January 2025.

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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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Tax on property you inherit

Tax on property you inherit

If you inherit property, you are usually not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before any cash or assets are distributed.

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Tax if you divorce or separate

Tax if you divorce or separate

If you are a couple that is getting separated or divorced, apart from the emotional stress, there are also tax issues that can have significant implications. Whilst this is unlikely to be uppermost in your mind it is important that the tax

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