Capital gains tax
You & your family
News
Cryptoasset investors urged to declare gainsÂ
HMRC has reminded investors in cryptoassets that they should declare any income or gains above the tax-free allowance on a tax return.Â
CGT higher rate on dwellings reduced
The higher rate of capital gains tax (CGT) for residential property disposals will be cut from 28% to 24% from 6 April 2024.
Capital gains tax implications
Capital gains tax (CGT) is complicated and can include the disposal of property, shares, businesses and personal possessions. As well as selling assets it includes gifts and transfers of various kinds.
It is further complicated by exemptions and reliefs, so we would recommend anyone facing up to dealing with matters that involve CGT to talk to our experts, who can advise in plain English.
We can tell you how to legally minimise payments, particularly in relation to the disposal of property which for many people is their largest asset. There are other complications surrounding situations involving divorce, gifts to charities and family members, and changes in business interests.
The way to gain maximum benefits is for you to talk to us and plan ahead.
You may find our tax briefings download informative.
Speak to a capital gains tax expert
Change to Whitley Stimpson
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Confirm to your accountant that you wish to move to Whitley Stimpson
Step 2
Supply Whitley Stimpson with your existing accountant’s details
Step 3
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You & your family
News
Cryptoasset investors urged to declare gainsÂ
HMRC has reminded investors in cryptoassets that they should declare any income or gains above the tax-free allowance on a tax return.Â
CGT higher rate on dwellings reduced
The higher rate of capital gains tax (CGT) for residential property disposals will be cut from 28% to 24% from 6 April 2024.
Furnished holiday lets relief to be scrapped
Owners of furnished holiday lets will lose their entitlement to favourable income tax, capital gains tax and capital allowances as the FHL scheme is abolished.
Partners in your progress
Do you need help calculating your CGT bill, and finding out which allowances you can claim to keep it to a minimum?
