Should rumours of increased CGT rates cause concern?

    The Office of Tax Simplification has made a number of recommendations to the government, including aligning capital gains tax (CGT) rates with income tax. What should you be advising clients...

    Capital gains tax - Capital gains tax losses - 47000

    Capital losses can be relieved in a variety of ways depending on the circumstances of the disposal and the taxpayer.

    Capital gains tax - Capital gains tax losses - General reliefs - 47270

    A number of loss reliefs are available to taxpayers, although the default treatment in most cases is to reduce current year gains and then carry forward any excess unrelieved loss.

    Capital gains tax - Capital gains tax losses - Losses on trading company shares - 47500

    An individual who sustains a loss on the disposal of certain shares which were acquired by subscription, (whether as a sole subscriber, joint owner, or nominee) may set the loss against general income...

    Avoiding tax trouble with earn-out deals

    You sold your business a few years ago. The deal included an agreement which linked part of the payment to the company’s subsequent performance. Recent events have caused the business to slump....

    When is it too late for capital gains tax losses?

    Many years ago you sold some shares for considerably less than you paid for them. You’ve never had cause to claim the capital gains tax loss. Is it too late to do so?

    Using CGT losses efficiently

    Our subscriber made capital gains from the sale of two assets and losses from the sale of another. The gains are taxable at different tax rates. Can they use the losses to reduce the higher rate...

    CGT - making the most of a falling stock market

    There are tricky capital gains tax anti-avoidance rules to prevent you from taking advantage of a falling market. Nevertheless, it’s possible to stay within the rules and still save tax. How’s...

    Tax compensation for unpaid business loans

    If, like many entrepreneurs, you’ve had to personally guarantee a loan made to your business, what’s the tax position if it can’t make the repayments and you are forced to step in?

    claim for a capital loss for repayment of a loan as guarantor

    Claim for payment under a guaranteeOne way of helping a growing business is to act as guarantor to its loan finance. If things don't turn out as planned and you are called upon to make good some...