On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28 January 2025, this was a Budget designed to restore confidence and win voters. But...
Posts Tagged ‘CGT’
Autumn Statement 2023 – What You Need To Know
On 22 November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament and started making, in his words, the long-term decisions necessary to strengthen the economy and build a brighter future. Fueled by falling inflation and stabilised public finances,...
Spring Budget 2023: What You Need To Know
On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages. Here is a...
Autumn Statement 2022 – What You Need To Know
The new Chancellor Jeremy Hunt had warned the public and the financial markets that his Autumn Statement would include “eye-watering” cuts in public spending and tax rises for those with the ‘broadest shoulders’. Unlike the ill-fated Fiscal Event of 23...
Capital Gains Tax (CGT) On Residential Property Gains – Are You Aware Of The 60-Day Limit?
Statistics published by HMRC in August 2022 revealed that in the 2021/22 tax year, 129,000 taxpayers reported residential property disposal using HMRC’s online service, filing 137,000 returns in respect of 141,000 disposal and paying £1.7 billion in tax. However, an...
The Office Of Tax Simplification Calls For Capital Gains Tax Overhaul
The Office of Tax Simplification (OTS) is recommending aligning capital gains tax (CGT) rates with those attributable to income tax as well as sharply reducing the annual exempt amount in order to increase tax revenues and create a more equitable...
Make Use Of The Capital Gains Tax Inter-Spouse Exemption
There are a number of tax concessions available to married couples and civil partners which recognise that their financial affairs may be interlinked. One of these concessions relates the transfer of assets between spouse and civil partner for capital gains...
Private Residence Relief And The Final Period Exemption
From a capital gains tax perspective, there are significant tax savings to be had if a property has been the owner’s only or main residence. The main gains are where the property has been the only or main residence throughout...
Consider other Tax Efficient Investments
If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certain qualifying companies allow you to set off of 30% of the amount invested against your income tax bill as well as...
Make The Most Of Your Allowances
The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free. In seeking to maximise your tax-free income, it makes sense to take advantage of available allowances. The following are a selection of...