The Capital Gains Tax (CGT) tax free allowance has now fallen to £3,000 (2024/2025). The policy was announced in the former Chancellor Jeremy Hunt’s first Autumn Statement in 2022. This reduction in the tax free allowance will result in more individuals being subject to the CGT regime. Additionally, most landlords selling their properties are also […]
Tag Archives: selling property
14
May
May
When selling your home, there are plenty of things to consider and take care of, but tax does not usually fall under that umbrella. The good news is that you typically don’t have to pay tax on the sale of your home or primary residence which is its official name. Capital Gains Tax (CGT) is […]
capital gains tax, HM Revenue & Customs, Tax Planning, Tax Tips
What is a post transaction valuation?
12
Oct
Oct
What is a post transaction valuation? When you sell an asset, you will need to report this to HM Revenue & Customs (HMRC) and pay any Capital Gains Tax (CGT). But you may not have sold the asset in question at market value so what do you do? In that case, you need to […]