Author: David E. Williams
Publisher:
ISBN: 9781847984395
Category : Capital gains tax
Languages : en
Pages : 255

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Book Description

Author: David E. Williams
Publisher:
ISBN: 9780863253324
Category : Capital gains tax
Languages : en
Pages : 255

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Book Description
The valuable private residence relief (PRR) from Capital Gains Tax contains traps for the unwary and opportunities for the well-informed. This book provides a survey of the statute and case law, together with practical guidance on tax planning and the conduct of disputed cases with Inspectors of Taxes and District Valuers. This second edition has been updated to take account of the Taxation of Chargeable Gains Act 1992 and recent developments such as: staff accommodation following the decision in Lewis (HMIT) v Lady Rook in the Court of Appeal; and Inland Revenue interpretations on gardens and land. The book explains points such as: how much of the land held with a house may be sold tax-free; whether it is possible to sell part of a large garden, yet remain in occupation of the house and still pay no CGT; when staff houses attract CGT (updated to take account of recent Court decisions in this area); whether it is possible to have an allowable CGT loss; how PRR interacts with roll-over and hold-over relief, IHT saving schemes and interest relief; and the implications of marriage breakdown.

Author: David E. Williams
Publisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 32

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Book Description

Author: M. Godfrey
Publisher:
ISBN: 9780905835075
Category : Inheritance and transfer tax
Languages : en
Pages : 18

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Book Description

Author: Matthew Hutton
Publisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 68

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Book Description

Author: Carl Bayley
Publisher:
ISBN: 9781907302732
Category : Business & Economics
Languages : en
Pages : 146

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Book Description
This unique guide explains in plain English how property capital gains tax is calculated and how you can drastically reduce your tax bill. It is essential reading for all those who own rental properties and second homes. Subjects covered include: The very latest Budget changes; How to reduce your income and pay CGT at 18% instead of 28%; How to save tax by transferring property to your spouse/partner; Tax-free properties for children; How trusts can be used to safeguard children's properties; How to avoid CGT on second homes using main residence elections; Why unmarried couples can have not one but TWO tax-free homes; How to develop part of your home and avoid CGT; How to convert heavily taxed income into leniently taxed capital gains; The tax benefits of using a company to invest in property; How to avoid being classified as a property trader and taxed at 40% or more; The enormous tax benefits of furnished holiday lets; How to make use of all the CGT reliefs including: private letting relief, entrepreneurs relief and rollover relief; How to save over 170,000 in capital gains tax and 40,000 income tax using the strategies outlined in this book... plus lots more!

Author: Bernard G. Corak
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 236

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Book Description

Author: Lee Hadnum
Publisher: CreateSpace
ISBN: 9781496113238
Category : Business & Economics
Languages : en
Pages : 114

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Book Description
For many people the family home is the most valuable asset they have. As such protecting its value will be key importance. In this tax guide we look at the key tax planning opportunities for the family home and private residences. We cover all planning for income tax, capital gains tax and inheritance tax. This guide is essential reading for anyone interested in retaining wealth from the family home and/or passing the family home onto your family tax efficiently. What is covered in this tax guide? Selling your main residence - how capital gains tax applies Establishing a property as a main residence in 2014 How PPR relief and lettings relief works 2014 changes to Principal Private Residence relief PPR relief where you have two or more homes Offsetting losses on a main residence and maximising tax relief Points to watch out for when selling a former main residence after you've left the UK How to avoid taxes if you're selling part of your garden Claiming Principal Private Residence relief if you convert a house into flats Tax implications of letting family live in your property Avoiding Tax On The Transfer Of Property To Children How to claim PPR relief on property occupied by a relative Buying property tax efficiently whilst your children are studying Helping your children to buy their first property tax efficiently Income and property tax planning when your children live with you Case study: Avoiding inheritance tax and capital gains tax on property Transferring property to a spouse Which is the best way for non doms to hold UK property? Advanced tax planning for non doms using offshore trusts to purchase UK property CGT on divorce and how to structure new property with a new partner Beneficial ownership, receiving a share of the proceeds and reducing capital gains tax Reducing CGT when transferring property to children (including an example of how to save £23,520 in CGT) Should you sell or let your former home? Should you reoccupy a property prior to selling it? When a property can be your main residence without you occupying it

Author: Carl Bayley
Publisher: Taxcafe Uk Limited
ISBN: 9781904608752
Category : Business & Economics
Languages : en
Pages : 100

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Book Description
This unique guide explains in plain English how property capital gains tax is calculated and what you can do to reduce your tax bill. It's essential viewing for all property investors and all those who own holiday homes or second properties. Subjects covered include the very latest Budget tax changes, how to gain extra tax savings from the Principal Private Residence exemption, making main residence elections to protect your 2nd home from the taxman, why unmarried couples can have not one but TWO tax-free homes!, how Private Letting Relief can protect up to 80,000 of your profits from tax, how to avoid capital gains tax if you emigrate, how to maximize your improvements deduction, the tax benefits of using a company to invest in property, using your spouse and children to gain extra tax savings, how to gain extra mileage from your annual CGT exemption, how to avoid being classified as a property trader and taxed at 40%, the enormous tax benefits of UK furnished holiday lets, using Enterprise Investment Schemes to postpone CGT & cut your income tax and the new Entrepreneurs Relief and how property investors can benefit.

Author: Matthew Hutton
Publisher: Hyperion Books
ISBN: 9780854599011
Category : Real property tax
Languages : en
Pages : 248

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Book Description
Brings together the planning considerations for all the taxes which affect private residences in one easy-to-use source. This edition presents: new cases concerning the main residence exemption from Capital Gains Tax; provisions of the Finance Act 1994 and the VAT Act 1994; the replacement of Community Charge by the Council Tax; an important decision on the main residence election; and the increase in rates of agricultural and business property relief. Worked examples are employed throughout.