My friend lived in a flat, and kept it, and rented it out when he went to live with his partner and has rented it out ever since (15 years).
My client is now divorced and has been for a few years.
I would be most grateful for any opinions and thoughts regarding the following situation:
A bit of a basic issue this: a client wishing to preserve a small CGT loss brought forward wants to pass over setting it off against a gain this year, the latter being at the ER of 10% - in the exp
HMRC has won an upper tribunal case against a car dealership about tax relief on capital gains tax.
I wonder if anyone can help with this question. I would like to get your basic thoughts on whether there is CGT to pay in this scenario.
Proposed changes to capital gains rules for companies may be too narrow and amount to "selective simplification", according to Baker Tilly.
I've always understood that it is not possible to hold-over a gain net of in year/b/f capital losses because the claim is asset specific.
With the new statutory residence test due to come in from April next year, taxpayers contemplating emigration have to prepare themselves to commit to a five-year period abroad, and comply with