Principle Private Residence and the Potential Pitfalls of your Garden
Principle Private Residence (PPR) which sets out the circumstances under Capital Gains Tax is or isn’t levied when selling off all or part of your estate.
Principle Private Residence (PPR) which sets out the circumstances under Capital Gains Tax is or isn’t levied when selling off all or part of your estate.
It is easy to forget the hidden tax rises which are created by frozen and cut allowances, so here is a quick reminder.
The annual capital gains exemption (currently £12,300) will be cut to £6,000 on 6 April 2023 and £3,000 in April 2024.
Capital allowances allow you to deduct some or all of the value of an item from your profits before you pay tax. Here’s what you need to know.
Capital gains made by individuals are generally taxed at lower rates to income and taxpayers benefit from a separate annual exemption that covers the first £12,300 of gains made per year.
Businesses take years to build up with the owners spending the best part of their lives ensuring they are successful. But what happens when it is time to retire? An obvious solution is to pass on the company to family, but care should be taken to avoid a considerable tax bill.