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Pay Less Capital Gains Tax Investing tax efficiently for your children 01/09/2010 This is a popular topic with site members, and as Child Trust Funds will be withdrawn after January 2011 this has led to a number of e-mails asking for tax efficient options to invest for children. In this article we look at the options for investing tax efficiently for your children . . . keep reading Court of Appeal decision in Smallwood and Company Residence 20/08/2010 The Smallwood decision is a useful reminder of the issues in establishing central and management control overseas in the context of an offshore company. In particular the confirmation that you need to look at (1) whether there has been a usurping of the Directors powers, and if not (ii) whether there is an external party that dictates decisions to the Directors is useful. This article looks at the facts and decision of the Smallwood case. . . . keep reading Using an offshore company for a UK property purchase and UK shadow directors 18/08/2010 We're often asked about the UK tax implications of purchasing a UK property via an offshore company. It's well known that non doms have an advantage as this takes the value of the property out of the UK estate for UK inheritance tax purposes, however what are the other tax implications of using an offshore company for UK property? . . . keep reading CGT changes make EIS investments less attractive 04/08/2010 One of the downsides of the CGT changes in the recent Emergency Budget is that EIS investments will be less attractive. In this article we look at precisely why the new CGT changes make EIS investments less attractive . . . keep reading Changes to the tax treatment of loan notes on the sale of a company after June 2010 02/08/2010 The Emergency Budget in June 2010 made a number of changes to the tax treatment of loan notes after 22 June 2010. In this article we look at the impact of the capital gains tax changes on the sale of company shares in exchange for loan notes both before and after 23 June 2010 . . . keep reading When to opt for an asset or share deal after the CGT changes from 23 June 2010 23/07/2010 When you're selling your company, there are two broad options. You could either structure the deal as a share deal or an asset deal. If you sell the shares, then the capital gain will arise on you (ie 10%, 18% or 28%). If you opt for an asset deal the company doesn't pay capital gains tax (which would only usually apply to individuals, trusts and executors). Instead it pays corporation tax on any capital gains. The tax rate will be its marginal rate of tax. In this article we look at precisely when it is attractive in tax terms to opt for a share or asset deal . . . keep reading Pre-sale dividends after 22 June 2010 to reduce CGT? 19/07/2010 A pre-sale dividend used to be a very popular method of minimising tax on the eventual disposal of a company, however its use diminished with the reduction in the rate of CGT to 18% and where shares qualified for Entrepreneurs Relief.In this article we look at how the CGT changes announced from June 2010 impact on the use of a pre-sale dividend to reduce tax on disposal of a company . . . keep reading The new CGT transitional rules for non-residents and non-doms As we all know the maximum CGT rate has increased substantially for disposals after 22 June 2010. However, the recent Finance Bill has produced some useful clarifications on the transitional rules that will apply, in particular when disposals are treated as arising before or after 23 June 2010.In this article we look at how the new rules impact on non-residents and non-doms . . . keep reading A review of the new CGT provisions in the 2010 Finance Bill 12/07/2010 The Emergency Budget on 22 June 2010 made some substantial changes to the capital gains tax regime. The Finance (No 2) Bill is going through Parliament and we thought it would be a good opportunity to have a look at the new legislation and see what it throws up. . . . keep reading Selling loan notes free of CGT after you're non resident 07/07/2010 When they sell shares in their companies many business owners receive shares or loan notes in the acquiring company.One of the attractions of this route is a CGT deferral. In this article we look at how a recent case has impacted on anyone planning on becoming non resident and selling loan notes free of CGT on deferred gains. . . . keep reading The impact of the increase in the Entrepreneurs Relief limit to £5 Million after 22 June 2010 30/06/2010 The limit for Entrepreneurs Relief has been changed in the 2010 Budget and the June 2010 Emergency Budget. In this article we look at the impact of the changes and the effect of these on the effective rates of CGT for various disposals . . . keep reading Points to watch out for when using negligible value claims to crystallise capital gains 28/06/2010 Investors can use a negligible value claim to treat an asset as being sold when it's value has become 'negligible'. This then allows a capital loss to crystallise which can be offset against other capital gains in the same year or in future years. However, a recent case has confirmed that a negligible value claim is not a simple formality and care needs to be taken to ensure relief is obtained. In this article we outline the impact of this recent case on negligible value claims . . . keep reading Avoiding the 28% rate of CGT with joint ownership 25/06/2010 With the increase in the rate of CGT to 28% for higher rate taxpayers as from 23 June, this makes it even more important to effectively plan to reduce your capital gains. In this article we look at one opportunity to reduce your effective rate of CGT . . . keep reading Details of the increase in the rate of CGT to 28% 23/06/2010 The Emergency Budget announced that there will be a change in the rate of CGT for gains arising on or after 23 June 2010. In this article we outline how the change to a 28% rate will apply in more detail . . . keep reading The increase in the rate of CGT to 28% and it's impact on cash extraction strategies 22/06/2010 The increase in the rate of CGT will have numerous tax planning implications. In this article we look at one of the less well reported implications - namely the effect that this could have on your cash extraction strategy . . . keep reading Using a company will be even more attractive for property and financial investors after the tax increases in the Emergency Budget 22/06/2010 Today's Emergency Budget has increased the rate of CGT to 28% for many investors. In this article we look at how this will make using a company more attractive for property and financial investors . . . keep reading The increase in the rate of CGT to 28% and Non Doms 22/06/2010 The increase in the rate of CGT will have some significant implications for non doms. In this article we look at some of the key implications of an increase in the rate of CGT to 28%. . . . keep reading Financial trader or investor status after the increase in CGT to 28% in the Emergency Budget? 22/06/2010 As the top rate of CGT will be increased to 28% from midnight tonight it's likely to be worthwhile for financial investors to reconsider whether there are any benefits in obtaining 'trader' status. In this article we look at exactly what the benefits are . . . keep reading Tax implications of selling your house via a raffle? 16/06/2010 This is an interesting area. One of our members has asked about the tax position if they were to sell their UK house via a raffle, rather than a simple direct disposal. The idea here would be that raffle tickets would sell for say £100 and providing he sold £1,000 tickets he would have sold for the £100,000 asking price. In this article we look at the UK tax implications . . . keep reading More advanced strategies for triggering capital gains before the Emergency Budget 04/06/2010 We've had a number of questions relating to how to crystallise capital gains before the 22 June Emergency Budget. In this article we look at some of the more advanced strategies to crystallise a disposal. . . . keep reading Offshore bonds become even more attractive after tax increases 22/06/2010 The proposed rise in the rate of CGT, as well as other proposals in the recent coalition agreement should make offshore bonds even more attractive. In this article we assess why offshore bonds may be more attractive investments under the new regime . . . keep reading Fixing the disposal date before 22 June to reduce your capital gains tax 19/05/2010 The changes to the capital gains tax rates to be announced in the Emergency Budget on 22 June will have a significant impact on anyone planning on selling assets in the next twelve months. Establishing the date of disposal before 22 June may therefore be very important in reducing your CGT charge. This article looks at the options available to bring forward your disposal date for tax purposes. . . . keep reading The increase in the rate of capital gains tax for non business assets 17/05/2010 The recent Liberal-Conservative coalition agreement included a proposal to increase the rate of CGT for non business assets. In this article we look at how this increase may apply and some tax planning opportunities . . . keep reading How to avoid being a property trader for income tax purposes 22/03/2010 Given the rise in the top rate of income tax to 50%, it's even more beneficial to avoid being classed as a property trader for tax purposes, and instead be classed as a property investor. The 18% rate of CGT will make it much more tax efficient for most developers. In this article we look at the different factors to take into account to ensure you're a property investor . . . keep reading Discretionary trust v flexible gift trust Question: A widow in his 60's has assets of around £300k, including a 2nd home, rented out(£6k per annum) worth about £120k and acquired 10 years ago for £30k.He wants to ring fence this property by putting it in trust for his son. What are the respective advantages /disadvantages of using a non-settlor interested discretionary trust as against a flexible gift trust, in relation to 1.capital gains tax on the transfer to the trust 2income tax on the rent 3.iht (he is not too concerned about this as he does not expect his estate to exceed the nrb threshhold thank you . . . keep reading Offshore Foundations and the remittance basis for CGT purposes 19/02/2010 Offshore foundations are of interest to many of our members, particularly non doms who can benefit from the remittance basis of tax. In this article we look at exactly how offshore foundations and their UK members/founders are taxed on capital gains . . . keep reading Should you make the foreign capital loss election - weighing up the pro's and con's 10/02/2010 This is a once and for all election and therefore it's very important to get it right. Following a forum post we've recapped on the pro's and con's of non doms making the foreign capital loss election. . . . keep reading New non dom guidance on transfers of forex between overseas foreign currency accounts 05/02/2010 There's been a lot of changes in the HMRC guidance relating to forex for non doms over the last 6 months or so. In this article we look at the impact of the latest guidance on capital gains and transfers between overseas foreign currency accounts . . . keep reading New rules to prevent capital losses on forex for non doms 27/01/2010 HMRC have announced details of the new provisions to be introduced to prevent capital losses being crystallised on foreign currency conversions in certain limited circumstances. In this article we look at the nature and impact of the changes . . . keep reading Top CGT free countries 20/01/2010 If you want to sell shares in your UK company or UK land and property free of capital gains tax, moving overseas and establishing non UK residence is one of the most effective tax planning options. In this list below we've looked at some of the top international destinations that don't levy CGT. . . . keep reading More

Capital Gains Tax Questions

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Capital Gains Tax articles