Capital Gain Tax Archives - Care Accountancy

March 15, 2021

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Finance Bill 2021: Details Published

The government has published the details of the Finance Bill 2021 on 11 March 2021. The Bill highlights the important law measures(announced in the recent 2021 Budget) set to come into legislation. Chancellor Rishi Sunak announced the following measures in his budget speech: an extension of the stamp duty holiday in England a super-deduction capital...

by Asma

March 3, 2021

Business News Capital Gain Tax Corporation Tax Income Tax Inheritance Tax News Property Tax Tax Investigation VAT0

Budget 2021: Major highlights at a glance

Chancellor Rishi Sunak unveiled the contents of his Budget 2021 in the House of Commons on 3rd March. He announced the UK government’s tax and spending plans for the year ahead. However, the focus on helping business and jobs through the pandemic and supporting the UK’s long-term economic recovery will remain unchanged. Here is a...

by Asma

November 12, 2020

Capital Gain Tax HMRC News Income Tax0

Changes to Capital Gains Tax (CGT)

The Office of Tax Simplification has revealed a new report on the policy design and core principles of CGT. The OTS has suggested some reforms for simplifying the design of Capital Gains Tax (CGT). In July 2020, the Chancellor asked the OTS to carry out a review of Capital Gains Tax to identify: the opportunities...

by Asma

October 28, 2020

Business News Capital Gain Tax Corporation Tax HMRC News0

Business Asset Disposal Relief (BADR)/ Entrepreneurs’ Relief (ER)

Business Asset Disposal Relief (BADR) previously known as Entrepreneurs’ Relief (ER) Business Asset Disposal Relief was known as Entrepreneurs’ Relief before 6 April 2020. BADR/ER provides a beneficial 10% Capital Gain Tax rate on the first £1 million of eligible gains per individual (which is tested on a lifetime basis). The Budget 2020...

by Asma

September 3, 2020

Capital Gain Tax Coronavirus News HMRC News Income Tax Uncategorized0

UK Tax rises: Pay the cost of COVID-19

The leading economists have warned that the UK will likely face “substantial” tax rises in the coming years, as the government seeks to pay for the cost of its COVID-19 response and public services. Some top economists told parliament’s Treasury Select Committee on Tuesday that tax rises were likely, although they said increases would likely...

by Asma

July 18, 2020

Business News Capital Gain Tax HMRC News Property Tax0

Review Capital Gains Tax: Chancellor requests OTS

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT). He requested to analyse the aspects of the taxation of chargeable gains in regard to individuals and small businesses. In the 2016 Budget, there was a drop in CGT, apart from on...

by Asma

June 28, 2020

Capital Gain Tax Inheritance Tax Stamp Duty0

Tax Consequences on Gifted House

If someone wants to gift a house to his children, he needs to consider the following tax consequences regarding the gifted house. Capital Gain Tax (CGT): There will be a Capital Gains Tax (CGT) and the proceeds will be deemed to be the market value of the property at the date of the gift....

by Asma

March 17, 2020

Capital Gain Tax HMRC News News0

Capital Gains Tax: New rule for property owners

HMRC has recently announced changes to Capital Gains Tax payment for UK property sales. HMRC have reminded property owners who are selling a residential property in the UK about important deadline changes when paying Capital Gains Tax. The deadlines for paying CGT after selling property are changing from 6 April 2020. Property owners should understand...

by Asma

March 15, 2020

Capital Gain Tax News Our Blog0

Entrepreneurs’ Relief: Budget 2020

Chancellor Rishi Sunak announced a cut in lifetime limit on entrepreneurs’ relief from £10m to £1m. This relief on capital gains tax (CGT) costs the Treasury £ 2.6bn an entrepreneurs’ year. Entrepreneurs’ relief, a tax break mostly benefits wealthy business owners. Rishi Sunak significantly scaled back the relief, which halves the capital gains tax paid...

by Asma

August 17, 2019

Capital Gain Tax0

Record Capital Gain Tax Collected From Tax Payers in 2017-18

Capital gains tax revenue hit a record new high of £8.8bn for the 2017-18 tax year, as 281,000 taxpayers paid a bill for selling valuables. Revenue from capital gains tax (CGT) increased 14% compared with 2016-17. The bulk of the bill was paid by high earners who made gains of £1m or more, though these...

Capital Gain Tax Archives - Care Accountancy

Finance Bill 2021: Details Published

Budget 2021: Major highlights at a glance

Changes to Capital Gains Tax (CGT)

Business Asset Disposal Relief (BADR)/ Entrepreneurs’ Relief (ER)

UK Tax rises: Pay the cost of COVID-19

Review Capital Gains Tax: Chancellor requests OTS

Tax Consequences on Gifted House

Capital Gains Tax: New rule for property owners

Entrepreneurs’ Relief: Budget 2020

Record Capital Gain Tax Collected From Tax Payers in 2017-18

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