Capital Taxes

This group of factsheets cover taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.


Capital gains tax

A capital gain arises when certain capital assets are sold at a profit. We consider the taxation of gains and outline the reliefs available.


Capital gains tax and the family home

We consider whether any tax is due on the sale of the family home and the availability of principal private residence and other reliefs.


Inheritance tax – a summary

Inheritance tax (IHT) is levied on a person’s estate when they die and on certain gifts made during an individual’s lifetime. We set out the principles.


Inheritance tax avoidance – pre-owned assets

The Pre-Owned Assets rules may apply where an individual successfully removes an asset, usually property, from their estate for IHT purposes but is able to continue to use the asset or benefit from it. We set out the rules for determining the income tax charge levied on the previous owner of an asset.


Stamp Duty Land Tax

Stamp Duty Land Tax SDLT is payable by the purchaser in a land transaction which includes a simple conveyance of land such as buying a house but also creating a lease or assigning a lease. We outline the fundamentals.


Trusts

Trusts are separate persons for UK tax purposes and have specific rules for all the main taxes. There are also a range of anti-avoidance measures aimed at preventing exploitation of potential tax benefits. We consider the basic principles.