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capital gains

Do you own a holiday let property?

There is a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL). They include:You can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders),

Limitations of tax relief when you sell your home

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.

Limitations of tax relief when you sell your home

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.

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.