Making a negligible value claim with HMRC

Making a negligible value claim with HMRC

by | Mar 6, 2025 | Capital Gains Tax

A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering flexibility in managing tax liabilities. A negligible value claim is a claim made by a...
More tax on business disposals from April 25

More tax on business disposals from April 25

by | Mar 6, 2025 | Capital Gains Tax

From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to 18% in 2026. Business owners planning to sell may benefit from acting before these changes take effect. Currently, Business Asset Disposal Relief (BADR)...
Rolling over capital gains

Rolling over capital gains

by | Jan 23, 2025 | Capital Gains Tax

Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this relief can optimise your...
Designating a property as your main residence

Designating a property as your main residence

by | Jan 23, 2025 | Capital Gains Tax

Owning more than one property? You can claim Capital Gains Tax (CGT) relief on just one at a time. By formally electing your main residence within two years of property changes, you can optimise your CGT exemption and make the most of key tax benefits. Taxpayers who...