Capital Gains Tax – Update, Tax Planning and Tax Traps

Business Asset Disposal Relief

• Key changes in recent Finance Acts:
  • Qualifying shares
  • Elections to avoid dilution issues
• Trading Company status:
  • Importance of the Assem Allam case
• Unincorporated businesses and LLPs
• Traps to avoid and key cases

Private Residence Relief

• Capital gains tax training explores the Main Finance Act 2020 changes, including:
  • Letting relief effectively abolished in most circumstances
  • Inter-spousal transfers
• The importance of ‘occupation’ and the evidence HMRC will require
• Review of recent cases

Goodwill on Business Disposals & Incorporations

• HMRC practice
• Recent cases

Non-Residents

• The anti-avoidance for ‘temporary non-residents’
• CGT charges on disposal of UK land and buildings:
  • When it applies
  • Compliance and computation issues
• The 60-day reporting and payment rules for UK residents disposing of UK residential property
• March 2024 Budget
• Abolition of remittance basis from April 2025
• This CGT course looks at the key points of the proposed replacement ‘foreign income and gains’ (FIG) regime
• Transitional provisions, including rebasing of assets for CGT purposes

Redcliffe’s capital gains tax courses are delivered by a Chartered Accountant who qualified with PwC in 1988, spending his last 18 months there in the Corporate Tax department.

In 1989 he joined a leading financial training company as a tax tutor, teaching final level candidates for the ICAEW and ACCA examinations. Since 1992, he has been self-employed as a Professional Tutor and Training Consultant, specialising in tax update courses for accountants, lawyers and investment managers.

Our trainer has been teaching in the financial services industry since 1994. Although he concentrates on the professional development market these days, he is very experienced in teaching stock brokers, fund managers and financial advisors for their various regulatory examinations.

As a result, he is a tax specialist with an (unusually) rounded knowledge of financial services products and markets. In 2012 this led to him undertaking Gapfill courses for the CISI.

He regularly contributes to Tax Insider magazine and speaks at regional conferences of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Institute of Taxation (CIOT).

This capital gains tax course will bring you up-to-date on:

• The key capital gains tax (CGT) reliefs, particularly business asset disposal relief the main residence relief
• The CGT charges and reporting requirements related to the disposal of UK residential property and (for non-residents) other UK land and buildings
• The key CGT planning points and problems arising from the proposed abolition of the remittance basis for non-doms
• A review of the recent case law, HMRC guidance and other developments

• The trainer is a Chartered Accountant with over 30 years of experience in tax training
• CGT training includes the discussion of a wide range of tax cases in this area
• There are many numbers-based practical examples to aid understanding of potential tax exposure
• Tax tips and traps are highlighted throughout

All relevant issues from the 2024 Finance Acts will be covered

Redcliffe Training’s CGT course will update you on the changes that have taken place in recent years and review several cases to demonstrate some of the practical problems that you may come across. Throughout this capital gains tax training, emphasis will be given to traps that can catch out the unwary.

The course will look at many ways for you to save your client tax; these generally involve having a solid understanding of what are often detailed rules and, crucially, planning well in advance of a disposal or transfer.