How Council Tax is calculated

by | Nov 28, 2024 | General

To calculate your Council Tax, you need to know the following: The valuation band of your property in England, Wales, or Scotland The amount your local council charges for that band Whether you qualify for a discount or exemption from the full bill If you are on a low...

Changes to CGT Investors’ Relief

by | Nov 28, 2024 | Capital Gains Tax

The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6 April 2026. Additionally, the lifetime limit for Investors'...

Gifts of land and buildings to charities

by | Nov 28, 2024 | HMRC notices

There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are met. There are also reliefs available where taxpayers sell a...

Seven year rule still applies – IHT PETs

by | Nov 28, 2024 | Inheritance Tax

There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person's lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are given. These lifetime gifts are referred to as...