capital gains tax

Tax Planning: What to Consider When You’re Thinking Of Selling Your Business

Tax Planning: What to Consider When You’re Thinking Of Selling Your Business

One of the key issues for business owners planning to retire or sell a business centres on how best they plan their tax liability. To maximise the best outcome business owners should plan well in advance. In our experience, it is never too early to consider financial planning and whilst ‘younger’ businesses may not place this at the top of the agenda right now, the reality is that planning at an early stage can be structured to help with current tax liabilities as well as those on retirement or sale. Capital Gains Tax Both Capital Gains Tax (CGT) and Inheritance Tax (IHT) need to be considered carefully as part of the planning exercise and examined in close detail – without appropriate planning for these two very real scenarios business owners might find themselves or their ‘estate’, handi... »

Family Businesses Unaware of Inheritance and Capital Gains Tax Liabilities

A third of family-business owners are unaware of their domestic inheritance tax and capital gains tax (CGT) liabilities, research from PricewaterhouseCoopers (PwC) has found. In PwC’s survey of more than 1,600 family-owned small and medium-sized businesses across 35 countries, two thirds of UK firms were also unaware of the international inheritance tax or CGT that they could incur, typically by owning premises abroad.  According to the poll, many UK firms are less well-prepared than their global counterparts. In Spain, 91% of firms were aware of their domestic Capital Gains Tax implications, while 85% of Brazilian firms and 73% in Germany were up to speed on their tax exposure. Mary Monfries, tax partner at PwC, said the results were “concerning”, saying: “Tax charges incurred throu... »

Capital Gains Tax Rise will Deter Small-business Investment

Financiers may be deterred from investing in small firms if the Government increases Capital Gains Tax (CGT) on non-business assets as expected in the emergency Budget on 22 June, the Institute of Directors (IoD) has warned. The coalition Government has already outlined plans to increase CGT on non-business assets from 18% to 40 or 50%. This would increase the levy on the profit individuals make when they sell second homes or other assets. It would also raise the tax rate on shares and securities, which represent a large proportion of business investment. According to the IoD, reintroducing taper relief would give an incentive to invest in businesses over the long term. “Investors such as business angels may be deterred by the expected rise in CGT, and unless you introduce a scheme l... »

Stamp Duty Land Tax - Budget 210 - GT

Budget 2010

Introduction Alistair Darling’s third budget, Budget 2010, is the last budget before the next General Election, the last budget of the current parliament. Budget 2010 is the first budget since the UK has emerged from possibly the worst global recession in 60 years. »

Chancellor of the Exchequer, Alistair Darling, will deliver his first budget on March 12th

Budget 2008 Date Announced

Chancellor of the Exchequer, Alistair Darling, will deliver his first budget on March 12th. »

Finally, Darling, a Capital Gains Tax Decision

At last, Alistair Darling makes up his mind on Capital Gains Tax. »

Capital Gains Tax Concession, Darling?

Alistair Darling, Chancellor of the Exchequer, has made indications that the government will make some concessions on Capital Gains Tax (CGT) reform over the next few weeks. In early October Alistair Darling announced changes to both Corporation Tax and Capital Gains Tax, hoping to simplify the system with a 2% cut in Corporate Tax, a  single 18% CGT rate and an end to taper relief. Instead, Mr Darling angered many small businesses and incurred the wrath of the CBI, with an open letter to Mr Darling expressing the potential damage to the country’s many enterprising small businesses. In a speech to the CBI conference on Tuesday Mr Darling continued to defend his position, once again relying upon his insistence that the tax system will be simplified as a result of his actions... »

Capital Gains Tax move “Undermines Enterprise”

Small Business News – 11th October 2007 Hot on the heels of the Chancellor’s first Pre-Budget Report comes a response from the Confederation of British Industry (CBI). This morning (Thursday) CBI Director-General Richard Lambert sent an open letter to Alistair Darling, Chancellor of the Exchequor, expressing the business group’s deep concerns over changes to Capital Gains Ta/business-advice/finance-and-money/budget-2013-annual-tax-rates-and-allowances/capital-gains-tax.htmlx as announced in the PBR. The letter chiefly states that the change in Capital Gains Tax… "undermines the 10 year effort by this government to promote enterprise and risk-taking within the UK." Undersigned by a number of members of the CBI including Steve Sharratt, Chairman of the CBI&#... »

Darling’s first Pre-Budget Report

The Chancellor, Alistair Darling, has delivered his Comprehensive Spending Review and Pre-Budget Report, but is there anything within his main points of particular relevance to British business? Firstly, he revised downwards the growth rate of the economy next year from 2.5%-3% to between 2% and 2.5% but expects growth to be around 3% in the year 2009/2010, saying that despite recent worldwide economic events, including increased raw material costs and financial uncertainty, the British economy remains strong. He stated that he intends to simplify the tax system, thereby allowing half a million business to function easier and save businesses £1,000,000 a year, though with no details of quite how he is going to do so as yet. The main rate (full rate) of Corporation Tax (Corporate Tax)... »