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capital

Selling shares?

As a general rule, if you sell shares for more than you paid for them, any profit you make will be chargeable to Capital Gains Tax (CGT).

CGT planning for married couples

This article is also relevant to couples who have entered into a civil partnership. For the tax year 2018-19, taxpayers can make tax-free capital gains of up to £11,700. This allowance is available on a per person basis and so married couples (and those in a civil partnership) have a combined CGT allowance of £23,400.

CGT planning for married couples

This article is also relevant to couples who have entered into a civil partnership. For the tax year 2018-19, taxpayers can make tax-free capital gains of up to £11,700. This allowance is available on a per person basis and so married couples (and those in a civil partnership) have a combined CGT allowance of £23,400.

Determine your main residence

Most people know that you do not pay Capital Gains Tax when you sell your main residence because you automatically qualify for a tax relief called Private Residence Relief.

Determine your main residence

Most people know that you do not pay Capital Gains Tax when you sell your main residence because you automatically qualify for a tax relief called Private Residence Relief.

Should we give shares to children and pay £5,000 dividends tax free?

The introduction of the £5,000 tax free dividend allowance has tempted many family company shareholders to give shares to other family members so that they can be paid £5,000 a year tax free. (Note that this allowance reduces to £2,000 from 6 April 2018).

Should we give shares to children and pay £5,000 dividends tax free?

The introduction of the £5,000 tax free dividend allowance has tempted many family company shareholders to give shares to other family members so that they can be paid £5,000 a year tax free. (Note that this allowance reduces to £2,000 from 6 April 2018).

100% tax relief for low emission cars

Currently 100% capital allowances are available when a business buys a motor car with CO2 emissions of no more than 75 grams per kilometer. Legislation has now been passed to reduce the threshold to just 50 grams from April 2018 but also to continue the tax relief for 3 years until 2021.

100% tax relief for low emission cars

Currently 100% capital allowances are available when a business buys a motor car with CO2 emissions of no more than 75 grams per kilometer. Legislation has now been passed to reduce the threshold to just 50 grams from April 2018 but also to continue the tax relief for 3 years until 2021.

Business expenses you can claim

Basically, you can claim for most expenses that are incurred wholly and exclusively for the purposes of a trade. Unfortunately, most of the decision making by HMRC on this topic is guided by tax law, which has been inconsistent. 

Business expenses you can claim

Basically, you can claim for most expenses that are incurred wholly and exclusively for the purposes of a trade. Unfortunately, most of the decision making by HMRC on this topic is guided by tax law, which has been inconsistent.