Documents for Business

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Flow chart - capital gains tax private residence relief

Flow chart - capital gains tax private residence reliefPrivate residence relief prevents or reduces capital gains tax being payable from the sale or transfer of a property that's been your home for all or part of the time you owned it. The once simple... Read more

Rent or business asset disposal relief checklist

Rent or business asset disposal relief checklistIf you personally own property that your company uses for its business, there can be tax advantages to having the company pay you rent. However, doing so can mean a higher capital gains tax bill when yo... Read more

Holdover relief claim

Holdover relief claimWhen you give away an asset for no consideration, or knowingly sell it for less than it's worth, you will be charged capital gains tax based on the market value. However, you might be able to make a claim to hold this gain over de... Read more

Claim for s.243 small part disposal relief

Claim for s.243 small part disposal reliefIf you are forced to sell your land to a local authority under a compulsory purchase order, you could benefit from an expanded form of small part disposal relief.Part disposals - generallyWhen you make a part... Read more

CGT unpaid proceeds claim

CGT unpaid proceeds claim If you sell an asset and the buyer fails to pay all or part of the proceeds, and you are unable to recover them, you can claim a reduction for the amount of gain chargeable to tax. Consideration payable after saleWhere you s... Read more

Non-resident CGT charge election

Non-resident CGT charge electionSince 6 April 2015, non-UK residents have been liable to capital gains tax (CGT) on disposals (sale or transfer) of UK residential property. Where this rule applies the cost of the property for CGT purposes (the "base c... Read more

Claim to adjust base cost for part disposal of land

Claim to adjust base cost for part disposal of landWhen selling a small part of a piece of land you are still liable for capital gains tax (CGT). However, if conditions are met, you can make a claim under s.242 Taxation of Chargeable Gains Act 1992 t... Read more

CGT schedule of capital enhancements

CGT schedule of capital enhancements The cost of structural alterations or improvements to properties counts as capital expenses (enhancements). They can be deducted as expenses when calculating the capital gain or loss following the sale of the prop... Read more

CGT EIS deferral relief claim

CGT EIS deferral relief claim Investing in enterprise investment scheme (EIS) shares gives you an opportunity to defer capital gains tax (CGT) that would otherwise be payable.claiming reliefEIS deferral relief, sometimes referred to as EIS rein... Read more

CGT negligible value claim

CGT negligible value claimIf you own an asset that has become of negligible value, i.e. worthless, you can make a negligible value claim to HMRC which entitles you to treat the asset as if it were sold for nothing. The effect of this is to create a c... Read more
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