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Capital taxes

This group of factsheets covers taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.

Capital gains tax

A capital gain arises when certain capital assets are sold at a profit. We consider the taxation of gains and outline the reliefs available.

Capital gains tax and the family home

We consider whether any tax is due on the sale of the family home and the availability of principal private residence and other reliefs.

Inheritance tax - a summary

Inheritance tax (IHT) is levied on a person’s estate when they die and on certain gifts made during an individual's lifetime. We set out the principles.

Inheritance tax avoidance - pre-owned assets

We consider the Pre-Owned Assets rules, along with the rules for determining the income tax charge levied on the previous owner of an asset.

Land and Building Transaction Tax

Land and Buildings Transaction Tax (LBTT) is payable by the purchaser in a land transaction which occurs in Scotland. This factsheet summarises the rates of LBTT which apply.

Land Transaction Tax

Land Transaction Tax (LTT) is payable by the purchaser in a land transaction which occurs in Wales. This factsheet considers the key principles and requirements.

We look at the key areas to consider for the purchaser in a land transaction, whether this is buying a house or creating a lease or assigning a lease, a purchaser is required to pay Stamp Duty Land Tax (SDLT).

Trusts

We consider the basic principles of Trusts, looking at what they are, along with a range of anti-avoidance measures aimed at preventing exploitation of potential tax benefits.

Latest accountancy news

03 Sep 2019

Simplify apprenticeship funding

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged the government to simplify the complexities of accessing apprenticeship funding.

03 Sep 2019

HMRC issues Customs EORI numbers

In order to try and ensure that businesses are ready to trade post-Brexit, HMRC is automatically enrolling them in the customs system.

03 Sep 2019

Trusts with small amounts of savings income

In the latest Trusts and Estates Newsletter HMRC has confirmed the continuation of the interim arrangement for interest reporting.

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