Will 10% tax on business disposals survive?

by | Oct 10, 2024 | Capital Gains Tax

While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming Budget. If you are contemplating selling your business soon, we can assist you in evaluating...

Current rates for Capital Gains Tax (CGT)

by | Sep 26, 2024 | Capital Gains Tax

CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain, they may be eligible for a reduced CGT rate of 10%. Once their total taxable income and...

Qualifying for Business Asset Disposal Relief

by | Sep 5, 2024 | Capital Gains Tax

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced Capital Gains Tax (CGT) rate of 10% is applied instead of the...

CGT Gift Hold-Over Relief

by | Aug 29, 2024 | Capital Gains Tax

Gift Hold-Over Relief is a tax relief that defers the payment of Capital Gains Tax (CGT). It can be claimed when assets, including certain shares, are gifted or sold below their market value to benefit the buyer. This relief allows any gain on the asset to be...