If you’re thinking of selling your business, one of the key questions you may ask is what tax I will pay on the money I receive? It’s a fair question too. Afterall, if you’ve been building the business for many years, you’ll want to ensure you see maximum benefit from the risk and hard work you’ve undoubtedly had to put into it.
A thinktank has suggested charging capital gains tax on primary residences as one potential form of taxation that could help the treasury fill the black hole in public finances left by Covid-19. At present, primary residences are only subject to stamp duty (excluding the current stamp duty holiday) and in some cases inheritance tax, where […]
Property owners need to be aware of significant changes to Capital Gains Tax (CGT) rules regarding the disposal of property assets. A range of measures were announced in the Autumn Budget 2018 that will impact those selling their main home, second homes or buy-to-let properties. One significant change relates to the sale of main homes. […]
Amid much talk of further tax rises in the pipeline, to help offset the impact of Brexit and to support the Governments planned spending increase on the NHS, HMRC has announced that it had a record tax take in the 17/18 tax year. The total take of just over £605 billion is up 5.4% on […]