Capital Gains Tax Archives - Page 5 of 5

Do you need to pay tax when you sell your home?

by tiemadmin | Nov 2, 2023 | Capital Gains Tax

In general, there is no Capital Gains Tax (CGT) when you sell your home. This applies to a property which has been used as the main family residence. An investment property which has never been used as your own home does not qualify for relief. This relief from CGT is...

Business asset disposals taxed at 10%

by tiemadmin | Sep 7, 2023 | Capital Gains Tax

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available Capital Gains Tax (CGT) of 10% is payable in place of the standard rate....

Tax when you sell property

by tiemadmin | Sep 7, 2023 | Capital Gains Tax

The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £6,000 and is set to be reduced to £3,000 from April 2024. CGT is normally charged at a simple flat rate of 20% and this rate applies to most chargeable gains made by individuals....

Share buy-back clearance applications

by tiemadmin | Aug 31, 2023 | Capital Gains Tax

Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and be subject to Income Tax. However, if certain conditions are met, the payment can be treated as an exempt distribution. An exempt distribution is a...