• Capital Taxes

Capital Taxes

> Trusts
Trusts are a long established mechanism which allows individuals to benefit from the assets without assuming the legal ownership of those assets so that others (the trustees) have day to day control over the assets. A trust can be extremely flexible and have an existence totally independent of the person who established it and those who benefit from it.

> Capital Gains Tax
A capital gain arises when certain capital (or ‘chargeable’) assets are sold at a profit. The gain is the sale proceeds (net of selling costs) less the purchase price (including acquisition costs).

> Inheritance Tax – A Summary
Inheritance tax (IHT) is levied on a person’s estate when they die, and certain gifts made during an individual’s lifetime. We give guidance on some of the main opportunities for minimising the impact of the tax.

> Stamp Duty Land Tax
Stamp Duty Land Tax (SDLT) was introduced on 1 December 2003 and replaced Stamp Duty in respect of land transactions. This factsheet sets out some of the basic things you need to know about the tax.

> Capital Gains Tax and the Family Home
The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs from which many people benefit during their lifetime.

> Inheritance Tax Avoidance – Pre-Owned Assets
Inheritance tax (IHT) was introduced approximately 30 years ago and broadly charges to tax certain lifetime gifts of capital and estates on death.