Capital Taxes - A Practical Tax Planning Update

Introduction

Capital taxes are an area that is ever evolving. This session will provide an update of the recent changes in CGT, IHT, and SDLT. It will also provide a refresher in some of the more established areas and consider those of the recent recommendations made by the Office of Tax Simplification that have been sidelined and how that impacts on tax planning.

Capital taxes is a fast-changing part of tax that will affect all clients at one time or another and one that can easily lead to professional indemnity claims.

This virtual classroom session will be practical in nature rather than detailed tax technical.

What You Will Learn

This live and interactive session will cover the following:

• IHT - a refresher in the basic rules including BPR and APR claims
• CGT - a refresher in and changes to Business Asset Disposal Relief
• CGT - the 60-day reporting regime and how it works
• CGT - Private Residence Relief - where are we now? A round up of cases and practical advice
• SDLT - an update of recent changes to the regime of mixed usage
• Trusts - the latest in reporting to HMRC - both IHT and CGT including TRS registration

There is a lot happening in all these taxes and the session will focus on:

• The Budget 2023 headline of APR to be extended to include ‘environmental management’ - impact on APR
• HMRC increased enquiries into APR
• Rollover relief and why it’s so important with drop in BADR limits
• The role of the “rollover buyer”
• The mixed usage cases of Withers and Averdieck
• The TRS registration and reporting and impact on BPR
• The importance of the interaction of valuations - Foster
• Where are we with capital tax planning on development land
• The question of storage - Vigne and Graham
• Caravans, livery and furnished holiday accommodation

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.