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....” . Married couples can hand property, shares and some other investments to each other without triggering a capital gains tax (CGT) charge, whereas unmarried partners may face a bill, he added. ... [Read full article on Daily Express ]
Wednesday 20th of September 2017 09:31:00 AM
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Latest Finance News related to Capital Gain

Why you should check your finances before getting married in later life image
Source : Daily Express [Read Article] Wednesday 20th of September 2017 09:31:00 AM
....” . Married couples can hand property, shares and some other investments to each other without triggering a capital gains tax (CGT) charge, whereas unmarried partners may face a bill, he added. ...
When is the right time to buy a property? image
Source : Guardian [Read Article] Monday 11th of September 2017 01:45:29 PM
....Instead of using all your invested assets to buy a home, you could use only as much as you need to put down as a deposit to get an affordable mortgage for the rest of the purchase price. It’s true that reducing the amount you have invested won’t produce the same amount of growth as now, but on the plus side capital gains made on a home of your own are tax-free, while gains on investments – even if held offshore – attract capital gains tax. ...
Have we gone too far in vilifying landlords? | Patrick Collinson image
Source : Guardian [Read Article] Saturday 12th of August 2017 06:00:37 AM
.... But the losers are the younger generation, who are now unable to get on the property ladder in large parts of the country, particularly in the capital. Tax hikes on buy to let and changes to lending criteria have taken the steam out of the market, but more needs to be done – higher rates of capital gains tax on rental properties, changes to the AST to give proper protections to tenants and stricter lending criteria are just a few of the options. ...
Buy-to-let landlords: Five top tips that could save you THOUSANDS image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 08:30:00 AM
Where to retire overseas for health, happiness, prosperity and community image
Source : Daily Express [Read Article] Tuesday 8th of August 2017 03:37:00 PM
....Belize is desperate to attract foreigners and their money, so anyone over the age of 45 who considers themselves to be retired and has sufficient monthly income to support themselves qualifies. If you enter the country as part of this programme, you will be exempt from Belizean taxes, such as income tax, estate tax, capital gains tax and import tax - to name a few. ...
Goodbye to buy-to-let: why I’m moving on after 13 years as a landlady image
Source : Guardian [Read Article] Saturday 5th of August 2017 05:59:04 AM
....Were it not for all the changes above, I would be content to carry on letting it. My husband and I will combine our capital gains allowances of £11,000 each. ...
We could end the buy-to-leave scandal – if the political will was there | Polly Toynbee image
.... Government has plenty of levers: lift the cap on council tax bands, so property pays today’s rate, not one last set in 1991. Declare that any future rise in property values above inflation will accrue capital gains tax: there is no good reason for people’s homes to swell in untaxed value. ...
The Guardian view on Grenfell and the housing crisis: no more excuses | Editorial image
.... In Switzerland there is a limit of 20% on the amount of property in any one area that can be sold to foreigners. The UK has introduced changes to capital gains tax liability and higher stamp duty on expensive properties. ...
'Disgusting and astonishing': how do the UK's top 1% view tax avoidance? image
.... But the fact the UK allows its territories to openly flout international tax transparency principles is astonishing. The industry I work in, private equity, is built around the use of legal tax planning to avoid the payment of taxes, and around the classification of executives’ performance-related compensation as capital gains [profit from an asset] rather than income. ...
Secure your worldly wealth: Tips to make sure you pass your wealth to the right person image
....Another option is to buy the property together, but this can backfire taxwise, he warns:. “If your name is on the property title it may be treated as a second home purchase, which means you incur the 3 per cent stamp duty surcharge, and may be liable to pay capital gains tax (CGT) on any sale profit. ...
Your state pension in Dorset: £124,000. In Glasgow? £38,000 | Patrick Collinson image
.... The most under-taxed store of wealth in the UK is property, largely owned by an older generation. There are myriad ways to access it – capital gains tax, inheritance tax or even land value tax. ...
Pension planning: Avoid these costly mistakes with your savings  image
Source : Daily Express [Read Article] Sunday 16th of July 2017 02:14:00 PM
....” . Pensions are a good place to store your money, as interest and capital growth rolls up free of tax, whereas withdrawals may become subject to income tax or capital gains tax. ...
What impact is Brexit having on foreign property prices? image
Source : Daily Express [Read Article] Wednesday 5th of July 2017 04:49:00 PM
....Meanwhile those who already own property may find themselves losing their perks of belonging to the EU, especially if the UK leaves the single market and therefore is no longer part of the European Economic Area (EEA). Britain thankfully has double taxes treaties in place with the majority of EU countries, meaning you should be prevented from being taxed twice on any of your earnings, however you may find that you are stung in other areas, such as with France’s capital gains tax which can be up to 30 per cent higher for non-EU citizens. ...
Will I be taxed if I sell my house, which I rented out, and buy a new one to live in? image
....A If the house you end up buying costs more than £125,000, you will definitely have to pay stamp duty land tax (SDLT) and you can work out exactly how much using our handy SDLT calculator. There may also be a capital gains tax (CGT) bill. ...
Tesco says price rises are last resort as UK growth hits seven-year high image
.... According to the research firm Kantar Worldpanel, inflation meant families had to spend £27 more for the same basket of goods in the 12 weeks to 21 May compared with a year ago. Tesco also said it had no more capital gains tax to pay following the sale of its Korean business in October 2015. ...
One love, one aim … finding the best way to donate to victims of the terror attacks image
.... If you are a UK taxpayer, regardless of the rate of tax you pay, charities can then claim an extra 25p for every £1 given. Your donations will qualify as long as you donate less than four times your entire income tax or capital gains tax bill. ...
Paul Polman: ‘I could boost Unilever shares. But cutting costs is not our way’ image
....”. What would a more level playing field look like? Polman is full of suggestions: voting rights that favour long-term investors; tax reforms that examine disparities between capital gains and income taxes; and better transparency regimes to reveal beneficial owners. ...
Picture perfect: how to make an art of your investments image
Source : Guardian [Read Article] Saturday 20th of May 2017 06:00:17 AM
....Investment experts say modern art is an effective hedge against inflation – returns tend to be better at times when prices in the economy are rising, which is the case now. When selling, anything under £6,000 is exempt from capital gains tax and further tax relief applies up to £15,000. ...
Bank of Mum and Dad is a major financial player - but could it be about to go bust? image
....Barclays, Hinckley & Rugby, Metro Bank, and Bank of Ireland help by allowing parent and child to take out a mortgage in joint names. He adds: “The property title will only be in the child’s name, as otherwise the parent could be liable for a stamp duty surcharge and capital gains tax when the property is sold. ...
Swiss 'spied inside German ministry' in tax scandal image
Source : BBC [Read Article] Thursday 4th of May 2017 11:22:21 AM
.... . German authorities say they are owed tens of billions of euros in unpaid capital gains tax because of money hidden in Switzerland and other tax havens. ...
Buy a home, get a car free: offers galore as London estate agents struggle to sell image
.... “The Chinese are finding it more difficult to borrow from their own banks and the gloss has gone off the London market. Foreign buyers were a very significant part of the new-build market, but they can’t get a yield, and they now can’t flip them for capital gain. ...
Millions rethink their investment plans and move away from buy-to-let property image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
....Currie says investing in stocks and shares is cheaper and easier: “Property is far less liquid, as it takes time to buy and sell. ” You can invest free of income and capital gains tax using your annual £20,000 individual savings account (Isa) allowance. ...
With a whiff of sulphur, George Osborne was gone – but for how long? | Polly Toynbee image
.... If he was genuinely a fiscal-rectitude iron chancellor, he would have pursued that goal. Instead, he gave out a mammoth £40bn in tax cuts to business and the better-off, in needless capital gains cuts and in this month’s new £1m inheritance tax threshold. ...
As newlyweds, what capital gains tax will we pay if we sell one of our flats? image
....Q I recently got married and we each own a flat. I was told by a friend that if we wanted to avoid capital gains tax (CGT) we would have to sell one of the flats in the first three years of getting hitched. ...
What time is the ISA deadline TONIGHT?  image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 09:38:00 AM
....The stock market offers higher potential rewards than a cash ISA but it comes with more risk. There is no tax on income and capital gains from investments. ...
Why becoming a tax haven would be bad news for Britain image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:30:42 PM
.... The simple fact is that wealth does not trickle down, even in tax havens. Almost without exception these places have no taxes on wealth, so inheritance taxes and capital gains taxes are absent. ...
Budget 2017: tax on dividends will be a raid on 2 million small investors image
....”. Richard Stone, chief executive of stockbroker The Share Centre, says the dividend allowance introduced by George Osborne undermined part of the logic for using an Isa account – namely that all income and capital gains within an Isa are tax-free. ...
Simplify the tax system and the ‘economy will be more efficient’ image
Source : Daily Express [Read Article] Monday 6th of March 2017 08:33:00 AM
. The body wants the Government to do away with capital gains tax, stamp duty, council tax, business rates and inheritance tax. ...
Budget 2017: No 'spending sprees', Hammond warns image
Source : BBC [Read Article] Sunday 5th of March 2017 02:20:28 AM
....Also on the Marr show was Labour shadow chancellor John McDonnell, who said the National Living Wage should be increased to give workers a "pay rise". He said this, along with reversing changes to disability benefits and a cash injection for the NHS, could be funded by reversing £70bn in corporation, capital gains and inheritance tax cuts. ...
Big returns image
Source : BBC [Read Article] Sunday 5th of March 2017 01:39:06 AM
.... Investing with him would have turned £10,000 into £22,697 over the 10 years. That sum includes £8,000 in capital gains, and £4,000 in income. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
....He is calling on Chancellor Philip Hammond to scrap this “absurd tenant tax” in the Budget on Wednesday. Landlords even pay a higher rate of capital gains tax when selling a property, at 18 per cent for basic rate taxpayers and 28 per cent for higher rate taxpayers. ...
ISAs 2017: Can I move existing shares into an ISA? What happens to my ISA if I go abroad? image
.... . “The process could generate a capital gain (or loss), however if your total gains are within the capital gains tax allowance of £11,100 there will be no tax to pay. ...
ISAs 2017: Can I move existing shares into an ISA? What happens to my ISA if I go abroad? image
. April 5 is the deadline for investing in an Individual Savings Account (ISA) – essentially a tax-free shelter which protects your money from dividend, income and capital gains tax. ...
Donald Trump has made rookie mistakes – he must change his approach image
Source : Guardian [Read Article] Thursday 2nd of March 2017 08:59:39 AM
.... Jimmy Carter tried, but immediately ran afoul of his party’s leadership in Congress – and subsequently struggled to get anything accomplished. For example, Congress turned his proposed tax cut for dividends into one for capital gains. ...
Will we pay higher stamp duty on a buy-to-let property? image
Source : Guardian [Read Article] Thursday 16th of February 2017 11:10:19 AM
.... On a property costing £220,000, which is not replacing your main residence, you will face a stamp duty bill of £8,500, which is £6,600 more than the tax at the standard rate. You will also have to pay income tax at your highest rate on your share of the rental income, plus capital gains tax (CGT) if you sell the property for more than you paid for it, and possibly inheritance tax (IHT) because the property will form part of your estate on your death. ...
ISA allowance: If I don't use this year's allowance, can I carry it over to next year? image
Source : Daily Express [Read Article] Wednesday 15th of February 2017 04:42:00 PM
....The stock market offers higher potential rewards than a cash ISA but it comes with more risk. There is no tax on income and capital gains from investments. ...
Here's how being married still has its financial benefits image
Source : Daily Express [Read Article] Wednesday 15th of February 2017 08:07:00 AM
....Capital gains tax. Married couples can also cut any capital gains tax (CGT) liability, because they can transfer assets between themselves without triggering a tax charge. ...
What is an ISA? How to save money with an ISA? Advice and tips image
Source : Daily Express [Read Article] Thursday 9th of February 2017 05:00:00 PM
....With a cash ISA, you do not pay any tax on interest. With the other ISAs, you do not pay tax on income or capital gains from investments. ...
ISA 2017: What happens if I've paid too much into my ISA? Can I have more than one ISA? image
. Individual Savings Accounts (ISAs) allow savers to protect their money from dividend, income and capital gains tax. ...
ISA 2017: If you already have an ISA do you get 2 allowances each year? Can I open 2 ISAs? image
. An Individual Savings Account (ISA) is a tax-free shelter which protects your money from dividend, income and capital gains tax. ...
Savers warned: Here are the 10 big ISA mistakes to AVOID ahead of deadline  image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 05:57:00 PM
.... Amid ultra low interest rates and rising inflation, more savers are turning to so-called stocks and shares ISAs - which can hold a range of investments - over the cash equivalent. Keeping assets inside the tax-free wrapper, mean that payments from shares are protected from dividend, income and capital gains tax. ...
'The UK is a tax haven' – Bermuda attacks plan to end financial secrecy image
....From April 2017, however, non-doms will lose some of their advantages and foreign nationals will no longer be able to enjoy tax breaks indefinitely in the UK. Those resident in the UK for 15 out of the previous 20 years will be liable for inheritance, capital gains and income tax on their worldwide assets. ...
Tax return DEADLINE: Millions urged to act TODAY to avoid £100 fine  image
Source : Daily Express [Read Article] Friday 27th of January 2017 04:14:00 PM
....Returns are filled in for the previous year that runs until April 5. If you owe any capital gains tax from selling investments, such as shares or property, worth more than £11,100 you'll also need to fill out the return. ...
10 ways to cut your tax bill image
Source : Guardian [Read Article] Saturday 14th of January 2017 07:00:19 AM
.... You can shift savings and assets into an account in your partner’s name. Richard Morley, tax partner at accountants BDO, says couples can give each other up to £11,100 a year without incurring capital gains tax. ...
 Act NOW to slash your tax bill: Self-assessment tax returns due by end of January image
Source : Daily Express [Read Article] Wednesday 11th of January 2017 12:01:00 AM
.... . Monteith added that you must declare all your income and capital gains: “There are severe penalties for failing to declare all taxable income and capital gains. ...
Save on tax: 10 ways to - legally - cut what you pay to HMRC  image
Source : Daily Express [Read Article] Sunday 8th of January 2017 04:33:00 PM
...."6. Use your capital gains tax allowance with your ISAIt's estimated millions of pounds in Capital Gains Tax (CGT) could be avoided by making the most of ISA allowances. ...
Rex Tillerson cuts ties with Exxon Mobil via $180m retirement package image
Source : Guardian [Read Article] Wednesday 4th of January 2017 02:16:38 PM
.... His children will manage his portfolio of businesses and have already been invited to meetings with top government officials and business leaders. The unprecedented wealth of Trump’s list of cabinet nominees means that more disclosures like Tillerson’s ate expected in the coming weeks and multiple billionaires across several industries will, like Tillerson, make huge savings on capital gains taxes, among other incentives, on their huge fortunes in return to taking up public office. ...
New year resolutions to help you handle your money in 2017 image
Source : Daily Express [Read Article] Sunday 1st of January 2017 05:41:00 PM
....Cutting your tax bill is one resolution everyone can get behind. Peter Banks, head of investment and tax planning at Drewberry Wealth, says the best way is to make full use of your various tax allowances: “You can save up to £20,000 in an Isa from April 6, with your returns free of income tax and capital gains tax. ...
Deadline: one month left to file your tax return image
Source : Guardian [Read Article] Saturday 31st of December 2016 07:00:21 AM
....• your income (or your partner’s) was over £50,000, and one of you claimed child benefit. • you made profits from selling things like shares or a second home and need to pay capital gains tax. ...
How a healthy buy-to-let profit could soon become a painful loss image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
.... First, says Wright, landlords need to consider whether it is worth transferring any existing properties. “A company is a separate legal entity, so if you want to move a property into one you have to sell it to it – this may attract the new higher rate of stamp duty and, depending on how much the property has increased in value, could trigger a capital gains tax bill. ...
Buy to let: ‘We landlords are being vilified’ image
Source : Guardian [Read Article] Saturday 10th of December 2016 06:59:07 AM
.... But now he says it is likely he will have to raise rents to above the market average to protect himself from the tax rises. The alternative would be to sell up, with many landlords weighing up the cost of the annual tax increases against the capital gains tax liability if they “crystalise” their property profits and sell up. ...
Heard the latest Christmas story? It’s about how UK banks pay all their taxes | Prem Sikka image
.... It does not even contain an acknowledgement of the fact that the financial sector relies on support provided by taxpayers in the shape of loans and guarantees, or profits made through the private finance initiative (PFI). It is silent about the effective rate of corporation or capital gains taxes paid by financial services companies, profits shifted to tax havens, their tax avoidance schemes, or any sweetheart deals with HMRC. ...
Philip Hammond defends 'doom and gloom' Brexit forecast image
Source : Guardian [Read Article] Thursday 24th of November 2016 09:38:25 AM
....Speaking earlier on the programme, the shadow chancellor, John McDonnell, said Hammond had some wrong economic priorities given the uncertain economic climate. “They have given tax giveaways on capital gains tax, corporation tax, inheritance tax to the wealthy in our community and corporation, cutting universal credit to people they call Jams – just about managing – people going into work, looking after their families, doing everything they ask for,” he said. ...
Mortgage costs and tax are complicating our move image
Source : Guardian [Read Article] Thursday 24th of November 2016 07:00:27 AM
.... As a result, when he sells the rental property there will be a mortgage of £125,000 left for him to pay off. Here comes my nightmare: I have tried to work out how much capital gains tax (CGT) he will have to pay and it’s roughly £65,000 if we include the £125,000 mortgage (that his ex has gained from not us). ...
Joseph Stiglitz: what the US economy needs from Donald Trump image
Source : Guardian [Read Article] Tuesday 15th of November 2016 12:00:15 PM
....America’s regressive tax system – which fuels inequality by helping the rich (but no one else) get richer – must also be reformed. An obvious target should be to eliminate the special treatment of capital gains and dividends. ...
I inherited a house from my late husband – will I pay CGT if I sell it? image
Source : Guardian [Read Article] Thursday 20th of October 2016 06:00:29 AM
.... The house will eventually be in my name. Will I be liable for capital gains tax (CGT)? Or do I need to live in it for a certain period of time – if so for how long? AB. ...
Will I pay CGT if I sell my buy-to-let to help fund a new home? image
Source : Guardian [Read Article] Thursday 29th of September 2016 06:00:35 AM
. Q I would really appreciate your advice on capital gains tax (CGT). ...
The British success story that turned £1,000 invested into £1,820 in 12 months image
Source : Daily Express [Read Article] Friday 23rd of September 2016 04:04:00 PM
. Those who backed the company, which makes microchips that are now used in 95 per cent of smartphones, are sitting on hefty capital gains, with £1,000 invested just 12 months ago now worth £1,820, according to AJ Bell. ...
Bahamas files leaks expose politicians' offshore links image
Source : Guardian [Read Article] Wednesday 21st of September 2016 06:00:27 PM
....It was also the offshore address of a Mongolian goldmining company whose directors included Sukhbaatar Batbold, an entrepreneur who would go on to become Mongolia’s prime minister. There are many legal reasons for choosing a Bahamas letterbox, chief among them the absence of taxes on company profits, capital gains, income and inheritance. ...
Planning ahead for the future can help you avoid pitfalls image
Source : Daily Express [Read Article] Wednesday 21st of September 2016 12:11:00 PM
....”. You can also invest up to £15,240 a year using your ISA allowance without paying any income tax or capital gains tax on your returns. ...
Tech start-up funding 'appallingly bad' in UK image
Source : BBC [Read Article] Sunday 18th of September 2016 11:00:32 PM
....". One problem, Mr Silva says, is the UK's entrepreneur relief which gives a lower capital gains tax when businessmen and women sell their company. ...
We're not married, so can we avoid higher stamp duty on a second home? image
Source : Guardian [Read Article] Thursday 15th of September 2016 06:00:35 AM
.... From what I have read, if you are not married you are considered as two parties. We are aware of the tax implications of letting property and the capital gains tax, but we do not intend to sell for many years. ...
£32,000 anybody? image
Source : BBC [Read Article] Friday 9th of September 2016 06:33:25 PM
....Alternatively the money can be invested in stocks and shares, which have potentially higher returns, but which carry greater risk too. All gains are free of income and capital gains tax. ...
Pensions still a great way to save for retirement  image
Source : Daily Express [Read Article] Wednesday 31st of August 2016 07:50:00 AM
Dukes and other super-rich are not the only ones who can reduce death duties image
....“We wanted to ensure our children benefitted from our assets,” says George, who lives near Chester. “We placed two properties into the trust without paying any capital gains tax. ...
I want to sell a house I've been renting out – will I have to pay capital gains tax? image
.... The house is still let and has been for around 136 months. Am I right in thinking that my ex-wife was liable for capital gains tax when she disposed of her share by selling it to me? And would I be liable for capital gains tax (CGT) if I sold the house today? Would I be advised to move back into the house for a period of time to limit my exposure to CGT? AH. ...
Investing in favourite hobbies for profit return on the rise image
Source : Daily Express [Read Article] Wednesday 24th of August 2016 10:21:00 AM
....73 for a 1915 Gold Sovereign Full George V or £1,038 for a Krugerrand 1oz coin. Lawrence Chard, founder of Blackpool-based bullion dealer Chard, says 1oz gold Krugerrands and Britannias are very popular and are free of capital gains tax. ...
I want to know where I stand regarding capital gains tax image
Source : Guardian [Read Article] Thursday 28th of July 2016 04:49:00 PM
. Q I need to obtain clarity on whether I would pay capital gains tax on purchasing a property using a bridging loan whilst I’m in the process of selling a second home. ...

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