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Capital Gains Tax

Does capital gains tax apply when gifting a property?

Does capital gains tax (CGT) apply when gifting a property? Gifting a property can be a way of reducing your Inheritance Tax liability however, it is important to be aware of other taxes, such as capital gains tax, which may be incurred. Certain taxes will be due depending on specific factors such as, who the

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27 July 2021
HMRC

Capital Gains Tax: UK residential property disposals

HMRC has revised its guidance to note that, due to coronavirus, HMRC did not issue late penalties on any transactions that were executed between 6 April and 30 June 2020. This relaxation of the penalty regime was given where the gain was reported and any tax due was paid by 31 July 2020. However, if

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24 August 2020