When is Capital Gains Tax payable

When is Capital Gains Tax payable?

Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19. There are also a number of circumstances when a disposal does not create a taxable gain. These include: The sale of personal assets worth less than £6,000. Gifts to your spouse or civil partner. Gifts … Read more

Changes to rent-a-room relief

Changes to rent-a-room relief

A new test is to be added to the qualifying criteria for rent-a-room relief from April 2019. The test will require that the individual or individuals in receipt of income – the home owner(s) – will need to share occupancy of the residence in question with the individual whose occupation of the furnished accommodation is … Read more