C

    Capital gains tax - Specific types of asset - Land and interests in land - 49000

    The general rules for the computation of chargeable gains and allowable losses apply equally to land. However, there are a number of provisions which relate specifically to land and interests...

    Capital gains tax - Specific types of asset - Land and interests in land - Miscellaneous provisions - Relief for exchange of joint interests - 49225

    In the normal course of events, where land which is owned jointly (whether as joint tenants or tenants in common) is partitioned between the joint owners, a disposal will be deemed to arise....

    Sold your home - when do you need to report it to HMRC?

    You sold your home and moved to a new one a few weeks ago. You thought all the paperwork was done and dusted but a friend now tells you that you need to tell HMRC about the sale or face a fine....

    New property disposal guide

    New property disposal guide..Property. Since April 2020 there has been a single system for reporting disposals made by: UK residents realising a gain on UK residential property (or an interest therein)...

    Advising on the changes to CGT on property sales

    The way that capital gains tax on property gains is paid is changing from 6 April 2020. What are the new requirements and how can you take advantage of the rules in some circumstances...

    Tax rate trap on sale of land

    Our subscriber received his 2018/19 tax bill from HMRC which is higher than expected. The difference is extra capital gains tax relating to the sale of land. HMRC says it’s because the tax...

    A CGT break for joint property owners

    If you own two or more properties jointly but have decided you want to rationalise ownership so you can go your separate ways, each of you might face a capital gains tax bill. How can you make...

    Selling your home office - will you have to pay tax?

    Part of your home has been used for business purposes and you’ve claimed a corresponding income tax deduction for the running costs. You’re about to sell your home for much more than you...

    Dealing with overage clauses

    Your client is selling some land that might have future development potential, and has been advised by his solicitor to negotiate an overage clause. However, he is confused about how this might affect...

    More properties caught in ATED net

    The special capital gains tax (CGT) on corporately owned residential properties has been extended. What are your options should it affect your company?