Payment period on residential CGT is doubled

The government has doubled the period for filing and payment of capital gains tax (CGT) on residential property from 30 days to 60 days. The measure was announced by Chancellor Rishi Sunak in the recent Autumn Budget. The change applies from 27 October 2021. It sees the deadline for residents to report and pay CGT… Continue reading Payment period on residential CGT is doubled

Autumn Budget 2021

On 27 October 2021 the Chancellor, Rishi Sunak, presented his latest Budget.  Overall it seemed more of a “spending” budget than a “tax" budget and there was very little that was actually new, with major policy changes having been leaked in advance or announced previously…. Given there have been grants and reliefs dished out over… Continue reading Autumn Budget 2021

Budget 2020 – 5 Changes That May Affect Your Business

On 11 March 2020 the new Chancellor, Rishi Sunak, presented his first Budget, just a month into the job.  It was always going to be a challenge for him to prepare for the budget in such a short space of time and this wasn’t made any easier for him with the rapidly changing situation with… Continue reading Budget 2020 – 5 Changes That May Affect Your Business

Capital gains fall-out for couples and family homes

Married and divorcing couples, including civil partners, should be alert to change to the capital gains tax (CGT) rules on private residence relief. Divorcing couples Tax is never at the top of the agenda when a relationship ends, yet the tax consequences can be far-reaching. A jointly-owned family home is often the most important asset… Continue reading Capital gains fall-out for couples and family homes

Changes to Capital Gains Tax Private Residence and Letting Reliefs

Who is likely to be affected? Individuals who own one or more residential properties that they have lived in as their main residence at any time. What are the main changes? This measure makes a number of changes to Capital Gains Tax, Principal Private Residence Relief (PPRR) where individuals have more than one residence.  Change… Continue reading Changes to Capital Gains Tax Private Residence and Letting Reliefs