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Note: (A separate blog will be published for CGT for companies) Defining Capital Gains Tax (CGT) CGT is a kind of tax on the profit made from the sale of an asset. CGT is payable when a person sells an asset for a profit after the item’s value has improved. Who is liable for Capital… Continue reading A Basic understanding of the Capital Gains Tax for Individuals

Basic Understanding of Inheritance Tax An “inheritance tax” is a tax levied on the property and money. Other assets of a deceased individual (after inheritance tax allowances have been deducted). Most countries impose a tax on inheritances at a rate of 40 percent. If you make a chargeable transfer (including one to almost any trust)… Continue reading A Basic Understanding of Inheritance Tax (IHT)

Introduction The government announced a dramatic change in plans on some of the actions mentioned in the mini-budget dated 23-sep-22 on 17th October 2022. Then-Chancellor Kwasi Kwarteng announced significant changes to taxes and National Insurance in the government’s mini-budget on 23rd September. Which included a proposal to do away with the top rate of Income… Continue reading Government’s One-Eighty on Mini Budget Dated 23-Sep-22