All posts with the topic: CGT

George Osborne’s 2016 Budget contains a surprisingly broad range of new tax measures addressing everything from sporting testimonials to oil fields.  However, the main changes are as follows. Companies Corporation tax will come down to 17% from April 2020. From April 2017, companies will only be able to use carried forward losses against 50% of their profits above … Continue reading Budget 2016 – headline points

SDLT From 1 April 2016, a 3% higher rate of SDLT will apply to purchases of “additional residential properties”. This charge is aimed at those buying residential property for buy-to-let or as second homes. The government states that “some” of the additional tax collected will be used to provide £60 million for communities in England … Continue reading Autumn Statement 2015 – Residential property changes

Gains arising on or after today via carried interest are subject to new computational rules. Essentially, an affected individual will be taxed by reference to the full amount received less any sums actually invested by that individual. Whilst a capital gains treatment is preserved, it is intended that gains will be calculated in line with … Continue reading Carried interest – raising the effective rate of capital gains tax

Some of the measures announced this afternoon in the 2015 Summer Budget are as follows: Corporation tax corporation tax to be reduced to 19% in 2017 and 18% in 2020; corporation tax instalment payment dates brought forward for businesses with profits of £20m; annual investment allowance to settle at a permanent level of  £200,000 from … Continue reading Overview of main measures

Universities will often set up spin-out companies to commercialise the intellectual property generated by their academic research projects.  Spin-out companies are particularly common in the life sciences and technology sectors.  University academics and researchers who have assisted with the development of the intellectual property will frequently receive shares in the spin-out company as a reward … Continue reading Spinning-out entrepreneurs’ relief

George Osborne announced in today’s Budget: “We will close loopholes to make sure entrepreneurs’ relief (ER) is only available to those selling genuine stakes in businesses”. Having now seen the detail of these proposed changes, we find that he has made some targeted changes to the circumstances in which ER can apply but otherwise left … Continue reading Targeted changes to entrepreneurs’ relief – management companies

The announcements today by the Chancellor included surprises, confirmed many predictions but some topics were notably absent. Income tax rates – no major review Recent debates on income tax rates have been highly political and will continue to be so as we approach the election. The Chancellor has increased the personal allowance by £500 for … Continue reading Wish you were here: what was missing from Budget 2014?

The Chancellor has added to the range of tax reliefs available for investors by announcing that Social Investment Tax Relief will be introduced in the Finance Bill 2014.   Social Investment Tax Relief is expected to closely mirror EIS by providing income tax relief of 30% on qualifying investments in social enterprises, deferral of CGT on … Continue reading Introducing Social Investment Tax Relief

Extension of taxation on UK residential property held by non-natural persons As one of a number of measures aimed at tackling tax avoidance, the Government is extending the package of taxes on “enveloped dwellings”, lowering the threshold so that the relevant taxes apply to residential properties worth over £500,000 (rather than only to those worth … Continue reading More changes afoot for taxation of residential properties…

Following recent ECJ decisions, the European Commission requested the UK to amend its exit charge for companies moving their tax residence outside the UK. The current provisions deem a migrating company to dispose of, and immediately reacquire, its assets at market value at the time it ceases to be UK resident.  These rules apply to … Continue reading The corporate exit charge