Capital gains tax

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Practice notes
On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
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9th Nov
Practice notes
Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...
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9th Nov
Practice notes
The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
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9th Nov
Practice notes
A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
Practice notes
This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
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9th Nov
Practice notes
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
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9th Nov
Practice notes
Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
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9th Nov
Practice notes
Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...
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9th Nov
Practice notes
When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...
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9th Nov
Precedents
This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...
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9th Nov
Practice notes
Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
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Produced in partnership with Peter Murrin of Turcan Connell 12th Jan
Practice notes
An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...
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Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 12th Jan
Practice notes
Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan

Most recent Capital gains tax content

Practice notes
Where an asset is acquired or disposed of otherwise than at arm’s length (ie there is a gift or a transfer at an undervalue), this is a disposal for...
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Produced in partnership with Paul Davies of Clarke Willmott 16th Apr
Practice notes
Business asset disposal relief (BADR), which was called entrepreneurs' relief for tax years prior to 2020–21, is a capital gains tax (CGT) relief that...
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Produced in partnership with Satwaki Chanda 12th Apr
Practice notes
Investors’ relief is a capital gains tax (CGT) relief introduced by Finance Act 2016, designed for individuals who invest in unquoted trading...
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Produced in partnership with Satwaki Chanda 9th Apr
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.The annual tax on enveloped dwellings (ATED) was introduced in Finance Act 2013...
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9th Apr
Practice notes
For a taxable capital gain to arise, there has to be a disposal, or a deemed disposal, of an asset. The taxpayer will need to establish when the...
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9th Apr
Practice notes
This Practice Note sets out the key UK tax rates, thresholds and allowances most relevant to Private Client practitioners. It is intended as a quick...
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9th Apr
Practice notes
Principal private residence reliefWhere a person has more than one residence, they may, by notice to HMRC, nominate which is their main residence for...
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Produced in partnership with Peter Lane, Heartwood and David Brookes and Mike Ward, BDO LLP 9th Apr
Practice notes
Why are deadlines important?In order to comply with the legislation and avoid penalties and interest arising due to late payment of tax, it is...
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9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
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9th Apr
Practice notes
.FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
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Produced in partnership with Keith Bruce-Smith, Judith Robertson and Katie Walsh of Sinclair Gibson LLP 9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
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9th Apr
Practice notes
A gift of an asset is a disposal for capital gains tax (CGT) purposes. It can, therefore, trigger a CGT charge on the gain deemed to have arisen.The...
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Produced in partnership with Laura Poots (Barrister) of Pump Court Tax Chambers 9th Apr
Practice notes
'Bed and breakfasting' is the practice of selling shares and repurchasing them the following day. Although this was most popular prior to 1998, it can...
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9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
Read More >
9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
Read More >
9th Apr
Practice notes
ARCHIVED: This Practice Note gives an overview of the non-resident capital gains tax (NRCGT) charge that applied to certain non-UK resident persons...
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Produced in partnership with Alison Cartin of Taylor Wessing LLP 9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
Read More >
9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
Read More >
9th Apr
Practice notes
Overview of the UK taxation treatment of furnished holiday lettings (FHLs) in the UK and the European Economic Area (EEA)This note covers the UK tax...
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Produced in partnership with Keith Bruce-Smith, Judith Robertson and Katie Walsh of Sinclair Gibson LLP 9th Apr
Practice notes
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...
Read More >
9th Apr

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