The government believed that making residential property more expensive would discourage investors but has done little to affect the property market. Find out why there has been a spike in tax revenues and how stamp duty land tax will affect you.
15 July 2017
800,000 people will pay the 60 per cent tax rate in 2017/2018 – will you be one of them?
18 April 2017
The government’s pledge to not raise rates of income tax, VAT and National Insurance contributions during the current parliament (the triple lock) has meant that it has had to look to other ways of increasing the tax take.
Stuart is a tax specialist and heads the North East tax practice of RSM. Stuart’s particular expertise is in business structuring, capital tax planning and taxation of professional practices.
Paul is a tax partner in the Tunbridge Wells office of RSM providing commercial and practical tax solutions for the owner managed business and high net worth individuals.
Arguably one of the most important and generous reliefs from UK capital gains tax (CGT) is the exemption available for the disposal of an individual’s home. In straight forward cases where someone owns one property which they have always lived in for the whole period of their ownership any gain arising is completely exempt from a CGT charge. However modern life is never that simple.
Capital gains tax can apply on the disposal of assets, from a single item to a multi-million pound business. There are numerous relief opportunities available to manage liabilities, thus maximising the money in your pocket.