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Capital gains tax - articles

Features and articles from ICAEW related to capital gains tax (CGT) in the UK personal tax regime.

Displaying 1-30 of 78 results
Exclusive TAX FACULTY Working out the date of disposal isn’t always child’s play
  • Apr 2024
  • Stephen Relf
  • Taxline
How do you determine when an asset was sold when there is no formal documentation? Stephen Relf looks at a recent tax case where the First-tier Tribunal had to do just that.
INSIGHTS VIEWPOINT Consider using the real-time CGT service to report gains
  • Apr 2024
  • ICAEW Insights
ICAEW’s Tax Faculty is reminding taxpayers that HMRC's real-time service can be used to report capital gains outside of self assessment, including gains on cryptoassets.
Tax news in brief 17 April 2024
  • Apr 2024
Highlights from the broader tax news for the week ending 17 April 2024, including: how Labour intends to close the tax gap; a change to the form for reporting a residential property gain; and new HMRC guidance for employers on giving foreign tax relief.
VALUATION COMMUNITY The joy of giving
  • Apr 2024
  • Andrew Strickland
  • Valuation Community Newsletter
There have been several cases heard in the Tax Tribunal relating to the values to be ascribed to shares in small public companies that have been gifted to charity. These companies have normally been launched onto the AIM market or the Channel Islands Stock Exchange (CISX) relatively shortly before the gifts are made. Examples of such cases in the public domain include N Green and HMRC (Chartersea plc), J Netley and HMRC (Frenkel Topping Group plc), McArthur and Anor and HMRC (Baa Bar Group plc), Nice, Robinson and HMRC (Mount York) and Close, Nuttall and HMRC (Readybuy plc). These cases cover ...
CORPORATE FINANCE FACULTY Insight: employee ownership trusts
  • Apr 2024
  • David Prosser
  • Corporate Financier
Will the growing enthusiasm for employee ownership trusts be damped down by new legislation? David Prosser reports on the hopes and fears of those in the know.
Exclusive CONSTRUCTION AND REAL ESTATE COMMUNITY Building Back Better? Not yet!
  • Mar 2024
  • Ros Rowe
Ros Rowe, Subject Matter Expert for the Construction & Real Estate Community offers a personal view on what the Spring Budget means for housing and construction.
INSIGHTS VIEWPOINT Chancellor abolishes furnished holiday lets treatment and announces stamp duty land tax changes
  • Mar 2024
  • ICAEW Insights
From April 2025, taxpayers will no longer be able to treat their property business as a furnished holiday let (FHL). Stamp duty land tax multiple dwelling relief (SDLT MDR) will be abolished from 1 June 2024.
INSIGHTS VIEWPOINT Non-dom regime replaced by foreign income and gains regime
  • Mar 2024
  • ICAEW Insights
In the Spring Budget, the Chancellor announced that the current remittance basis of taxation will be abolished for UK resident non-domiciled individuals from 6 April 2025 and replaced by a new four-year foreign income and gains (FIG) regime.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC prompts disclosure of CGT liability on sale of shares
  • Feb 2024
  • ICAEW
HMRC has written to taxpayers who may have sold shares and failed to include the disposal on their tax return.
FACULTIES ONLINE TAX FACULTY TAX NEWS Government consults on tax simplification for alternative finance
  • Jan 2024
  • ICAEW
The government has proposed changing the capital gains tax (CGT) rules to ensure that alternative finance arrangements are taxed in the same way as other arrangements.
FACULTIES ONLINE TAX FACULTY TAX NEWS Self assessment tax returns for cryptoasset holders
  • Jan 2024
  • ICAEW
Individuals who received, sold or exchanged cryptoassets may be subject to income tax or capital gains tax (CGT) that should be reported on a self assessment tax return, due by 31 January 2024.
Exclusive TAX FACULTY Tax advantages and pitfalls of an earn-out
  • Dec 2023
  • ICAEW
  • Taxline
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
Exclusive TAX FACULTY The substantial shareholding exemption and degrouping charges
  • Nov 2023
  • ICAEW
  • Taxline
Peter Rayney examines the vexatious ‘M Group Holdings’ degrouping gains case and considers how companies could avoid the pitfalls.
CONSTRUCTION AND REAL ESTATE COMMUNITY Tax cut possible, says IFS expert
  • Nov 2023
  • Helen Miller
Despite Chancellor Jeremy Hunt saying it will be “virtually impossible” to cut taxes until the economic outlook improves, the deputy director and head of tax at the Institute for Fiscal Studies says it remains possible for individual taxes to be cut as early as the Autumn Statement. Writing in the Daily Telegraph, Helen Miller said individual measures could be considered, such as reforming stamp duty, council tax, or increasing taxes on capital gains.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Development land tax pitfalls – deferred consideration
  • Oct 2023
  • Julie Butler
  • Farming and Rural Business Community News
Despite all the news about the housing sector slowing down, the demand for farmland for development has remained strong, with reduced profit margins due to costs. Tax on the sale of land for development can be very complicated. In most cases the gain on the sale of land should be chargeable to capital gains tax (CGT) but in some cases the profit can be charged to income tax and this takes considerable planning in advance.
Exclusive TAX FACULTY Home loan schemes under the spotlight
  • Sep 2023
  • Andrew Cockman
  • Taxline
Andrew Cockman reviews the recent Elborne First-tier Tribunal decision and considers the practical impacts the case may have for practitioners with clients who still have home loan schemes in place.
Where are the gaps in HMRC’s digital services?
  • Aug 2023
ICAEW’s Tax Faculty wants to get your thoughts on the top priorities for the development of HMRC’s digital services.
Exclusive TAX FACULTY Understanding the statutory clearance process
  • Aug 2023
  • Nick Wright
  • Taxline
Nick Wright summarises the key case law that is relevant to understand whether HMRC will provide statutory clearance for a transaction.
FACULTIES ONLINE TAX FACULTY TAX NEWS Have your say: HMRC consultation on employee ownership trusts and employee benefit trusts
  • Aug 2023
  • ICAEW
Reforms to the tax treatment of EOTs and EBTs proposed in the paper are intended to focus the rules more effectively on the policy objectives of rewarding employees and encouraging more employee engagement. Another objective is to prevent tax advantages being obtained through the use of these trusts outside their intended purposes.
Tax news in brief 19 July 2023
  • Jul 2023
Highlights from the broader tax news for the week ending 19 July 2023, including: downloadable CGT PPD return trial extended; updated VAT form for barristers and advocates; and increase in apprenticeship care leavers’ bursary.
FACULTIES ONLINE TAX FACULTY TAX NEWS Overpayments of CGT following self assessment
  • Mar 2023
  • ICAEW
Self assessment tax return filers who have also submitted a capital gains tax (CGT) UK property return may end up in an overpayment position. ICAEW’s Tax Faculty recaps the process for claiming a CGT repayment.
INSIGHTS VIEWPOINT Capital gains tax considerations for landlords
  • Mar 2023
  • ICAEW Insights
Landlords may be selling to benefit from the CGT annual exempt amount before it falls, or market conditions may be forcing a sale, but they must be prepared to meet their CGT compliance obligations, Gillian Banks advises.
FACULTIES ONLINE TAX FACULTY TAX NEWS Paper return for UK property CGT reporting available for download
  • Feb 2023
  • ICAEW
The capital gains tax on UK property (CGT PPD) return has been published on HMRC’s website. Those submitting paper returns can now download the form instead of having to request it from HMRC by phone.
Exclusive TAX FACULTY FACULTIES ONLINE Making the most of capital losses
  • Feb 2023
  • Mei Lim Cooper, Technical Manager, Personal Tax, ICAEW
  • Taxline
The end of the tax year is approaching. A reduction to the capital gains tax annual exempt amount is imminent. This may be a good time for taxpayers to take stock of available capital losses, and ensure they have been claimed, says Mei Lim Cooper.
Exclusive TAX FACULTY FACULTIES ONLINE Entrepreneurs’ relief
  • Dec 2022
  • Mei Lim Cooper
  • Taxline
How long must a qualifying beneficiary have an interest in possession for a trust to qualify for entrepreneurs’ relief on a disposal of trust business assets?
FACULTIES ONLINE TAX FACULTY TAX NEWS Autumn Statement: Threshold freezes create stealth tax increases
  • Nov 2022
  • ICAEW
The Chancellor has confirmed that headline rates of income tax and capital gains tax (CGT) will remain at their current levels. However, there were various reductions in key thresholds and allowances, and several others were frozen for longer than previously announced.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY HMRC Roll Over enquiries
  • Nov 2022
  • Ben Allman
  • Farming and Rural Business Community News
There is evidence that HM Revenue and Customs (HMRC) are following up provisional Business Asset Roll Over Relief forms, reminding taxpayers to submit the valid claim. On occasion this has been noted to be after the deadline for submitting a valid claim has passed.
Exclusive PRACTICE DEPARTMENT Practice Live 2022: Tax Update
  • Nov 2022
  • ICAEW
Rebecca Benneyworth delivered a tax update at Practice Live 2022 covering key topics.
Exclusive TAX FACULTY FACULTIES ONLINE New capital gains tax rules for separating couples
  • Oct 2022
  • Mei Lim Cooper
  • Taxline
New rules will allow separating couples more time to transfer assets on a tax-neutral basis. Mei Lim Cooper explains that they’ll need to time it correctly to benefit.
FACULTIES ONLINE TAX FACULTY TAX NEWS CGT 60-day reporting: New agent authorisation process for digitally excluded
  • Oct 2022
  • ICAEW
HMRC has issued step-by-step guidance regarding new processes to allow agents to act on behalf of digitally-excluded clients in respect of capital gains tax (CGT) 60-day reporting.
Displaying 1-30 of 78 results
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