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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 88 results
Exclusive TAX FACULTY An introduction to employee ownership trusts
  • Dec 2024
  • Nick Wright
  • Taxline
The sale of a company to an employee ownership trust (EOT) is becoming more popular. In the first of two articles on EOTs, Nick Wright explains why this may be the case and how an EOT could be used.
Exclusive TAX FACULTY The tax benefits of employee ownership trusts
  • Dec 2024
  • Nick Wright
  • Taxline
In the second of two articles on employee ownership trusts (EOTs), Nick Wright explores the capital gains tax exemption for the shareholders of the trading company and the income tax exemption for employees receiving bonuses.
INSIGHTS VIEWPOINT HMRC provides further guidance on FHL abolition
  • Nov 2024
  • ICAEW Insights
HMRC has published guidance to clarify issues raised during the consultation on the draft legislation to abolish tax rules for furnished holiday lets (FHLs).
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Furnished holiday let reform – the last gasp from the March 2024 Budget!
  • Nov 2024
  • David Missen
  • Farming and Rural Business Community News
The recently published details of forthcoming reforms to the tax treatment of Furnished Holiday Lettings (FHL) income, which were initially announced in the 2024 Budget but omitted from the Finance Bill, signal significant changes effective from the end of the 2024/5 tax year. These reforms, which were announced on 30 July, were confirmed as part of the 2024 Budget package.
INSIGHTS VIEWPOINT TECHNICAL ROUND UP Technical round-up: October 2024
  • Oct 2024
  • ICAEW Insights
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
INSIGHTS VIEWPOINT Budget 2024 verdict: big and bold, but borne by business
  • Oct 2024
  • ICAEW Insights
Chancellor Rachel Reeves focused on delivering economic stability with her wide-ranging first Budget – but short-term tax raising measures worth £40bn fall primarily on the shoulders of business.
INSIGHTS VIEWPOINT Government publishes its plans for corporation tax
  • Oct 2024
  • ICAEW Insights
The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.
INSIGHTS VIEWPOINT CGT and SDLT rates increased in Budget
  • Oct 2024
  • ICAEW Insights
From 30 October 2024, the main rates of capital gains tax (CGT) will be increased to 18% and 24%. The 10% rate of CGT for disposals attracting business asset disposal relief (BADR) will increase to 14% (from April 2025) and to 18% (from April 2026).
Exclusive TAX FACULTY Cryptoassets: international tax issues
  • Oct 2024
  • Dion Seymour, James Carn and Yuri Hamano
  • Taxline
In the second of a series of articles on cryptoassets, members of ICAEW’s digital assets working party explain the key international tax considerations for individuals holding cryptoassets and for cryptoasset businesses.
INSIGHTS VIEWPOINT Need to know: CGT on residential properties
  • Jul 2024
  • ICAEW Insights
Reductions in the tax-free amount mean more taxpayers will find themselves caught in the capital gains tax net. We look at the issues to be aware of, including 60-day reporting and recent developments relating to principal private residence relief.
Exclusive TAX FACULTY CGT on residential properties – an update
  • Jul 2024
  • Gillian Banks
  • Taxline
More taxpayers will find themselves caught in the capital gains tax net due to reductions in the tax-free amount. Gillian Banks looks at the demands of 60-day reporting and provides an update on recent developments relating to principal private residence relief.
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.
Displaying 1-30 of 88 results
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