Accountants based in Halesworth, Bungay & Lowestoft | UK

Capital taxes

This group of factsheets cover taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.

Capital gains tax: A capital gain arises when certain capital assets are sold at a profit. We consider the taxation of gains and outline the reliefs available.
Capital gains tax and the family home: We consider whether any tax is due on the sale of the family home and the availability of principal private residence and other reliefs.
Inheritance tax - a summary: Inheritance tax (IHT) is levied on a person’s estate when they die and on certain gifts made during an individual's lifetime. We set out the principles.
Inheritance tax avoidance - pre-owned assets: We consider the Pre-Owned Assets rules, along with the rules for determining the income tax charge levied on the previous owner of an asset.
Land and Building Transaction Tax: Land and Buildings Transaction Tax (LBTT) is payable by the purchaser in a land transaction which occurs in Scotland. This factsheet summarises the rates of LBTT which apply.
Land Transaction Tax: Land Transaction Tax (LTT) is payable by the purchaser in a land transaction which occurs in Wales. This factsheet considers the key principles and requirements.
Stamp Duty Land Tax: We look at the key areas to consider for the purchaser in a land transaction, whether this is buying a house or creating a lease or assigning a lease, a purchaser is required to pay Stamp Duty Land Tax (SDLT).
Trusts: We consider the basic principles of Trusts, looking at what they are, along with a range of anti-avoidance measures aimed at preventing exploitation of potential tax benefits.

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