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Capital gains tax

Frequently asked questions from Markel Tax on capital gains tax.

Tax implications of gifted property

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June 2020

FAQ on the capital gains tax consequences if a client gifts a house to one of their children.

Capital gains tax on a property held in trust

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May 2020

FAQ on how to handle the capital gains tax for a commercial property that was held as part of a trust and was subsequently sold on, without being rented out.

Rules for UK residential property disposals from 6 April 2020

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April 2020

FAQ on on the requirements for submitting a UK land return to HMRC, for a client planning to sell a UK residential property in the 2020/21 tax year.

Personal tax

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March 2020

FAQ on on the tax implications of a client gifting rental property, which they own outright, to their adult children.

CGT Private residence relief

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November 2019

FAQ on whether a client can benefit from Private Residence Relief and Lettings Relief, even though the property, which was once their only or main residence, has been let out for several years.

Offsetting earlier losses from property rental against future profits

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May 2019

FAQ on whether a client can set the property losses brought forward against the profits from a newly acquired rental property. He previously rented out a residential property in the UK, but sold it in 2012-13 and declared the capital gain on sale on that year’s tax return. He made a loss that year, which has been carried forward since.