This group of factsheets covers taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.
A capital gain arises when certain capital assets are sold at a profit. We consider the taxation of gains and outline the reliefs available. We consider the taxation of capital gains and outline the reliefs available. If you live in the Essex area we, at SKZ Chartered Certified Accountants, can provide taxation advice to ensure … read more Capital gains tax
We consider whether any tax is due on the sale of the family home and the availability of principal private residence and other reliefs. A valuable relief exists on the sale of the family home but in certain situations, careful planning is required to ensure that the relief is obtained. If you live in the … read more Capital gains tax and the family home
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 is often called a voluntary tax in that, with planning, the payment of inheritance can be avoided. It is a tax levied on a person's estate when … read more Inheritance tax – a summary
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. The Pre-Owned Assets rules may apply where an individual successfully removes an asset, usually property, from their estate for inheritance tax purposes but is able to continue to use the asset … read more Inheritance tax avoidance – pre-owned assets
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 and Building Transaction Tax (LBTT) is payable by the purchaser in a land transaction that occurs in Scotland. At SKZ Chartered Certified Accountants, we can provide … read more Land and Building 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. Land Transaction Tax is payable by the purchaser in a land transaction which occurs in Wales. At SKZ Chartered Certified Accountants, we can provide guidance on Land Transaction Tax in … read more Land Transaction Tax
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). Stamp Duty Land Tax is payable by the purchaser in a land transaction which includes … read more Stamp Duty Land Tax
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. Trusts are separate persons for UK tax purposes and have specific rules for all the main taxes. There is also a range of anti-avoidance measures aimed at preventing … read more Trusts