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Bloomsbury Professional Capital Gains Tax 2021/22 [Pehme köide]

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  • Formaat: Paperback / softback, 672 pages, kõrgus x laius: 234x156 mm
  • Sari: Core Tax Annuals
  • Ilmumisaeg: 29-Sep-2021
  • Kirjastus: Bloomsbury Professional
  • ISBN-10: 1526518597
  • ISBN-13: 9781526518590
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Bloomsbury Professional Capital Gains Tax 2021/22Suurem pilt
  • Formaat: Paperback / softback, 672 pages, kõrgus x laius: 234x156 mm
  • Sari: Core Tax Annuals
  • Ilmumisaeg: 29-Sep-2021
  • Kirjastus: Bloomsbury Professional
  • ISBN-10: 1526518597
  • ISBN-13: 9781526518590
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9781526518590.html
Märksõnad:

Taking a practical approach to the subject and concentrating on the most commonly found transactions and reliefs, Capital Gains Tax 2021/22 is an invaluable title for those who deal with capital gains tax on a regular basis.

The latest edition examines the current legislation and HMRC guidance in a clear, comprehensive style and explores the following:

- Issue of nudge letter to prompt offshore disclosure
- HMRC consultation into how better to support taxpayers to fulfil their offshore tax obligations/compliance
- Case law –
- HMRC v Embiricos - the Upper Tribunal reversed the FTT decision and determined that HMRC cannot issue a partial closure notice in respect of an enquiry into a taxpayer's claim to the remittance basis without specifying the amount of tax due
- The Commissioners for HM Revenue and Customs v (1) The Quentin Skinner 2005 Settlement L (2) The Quentin Skinner 2005 Settlement R (3) The Quentin Skinner 2005 Settlement B (Trusts and qualifying period for BADR)
- Stephen Core v HMRC and Phillips v HMRC (Main residence relief)

The commentary in this title includes numerous examples, updated to the current tax year, and is cross-referenced to the tax legislation as well as to the HMRC manuals and to other HMRC guidance.

This accessible reference guide has a user-friendly structure with 'signposts' at the beginning of each chapter to summarise key topics and 'focus points' throughout to highlight important issues, as well as numerous worked examples demonstrating how to apply the main principles in practice.

Muu info

A clear and a quick guide to the taxation of capital gains for busy tax practitioners and taxpayers alike.
Preface v
Table of examples
xiii
Table of statutes
xix
Table of statutory instruments and other guidance
xxxiii
Table of cases
xxxv
List of abbreviations
xliii
Chapter 1 Introduction to capital gains tax
1(42)
Signposts
1(1)
What is chargeable as a gain
1(2)
History of CGT
3(3)
Who is chargeable to CGT
6(1)
Exempt assets or gains
7(6)
The capital gains tax calculation
13(8)
Reporting of gains
21(5)
Self-assessment procedures
26(5)
Payment of tax
31(2)
Compliance assurance and penalties
33(10)
Chapter 2 Disposals
43(16)
Signposts
43(1)
Definition of assets and disposals
43(6)
When asset value is lost
49(3)
Compensation and other receipts
52(3)
Special situations
55(4)
Chapter 3 Computation of gains and losses
59(42)
Signposts
59(1)
Computational rules
60(2)
Consideration for the disposal
62(7)
Connected persons
69(3)
Delayed or deferred consideration
72(8)
Allowable expenditure
80(7)
Calculation and use of losses
87(10)
Deduction of reliefs
97(4)
Chapter 4 Particular assets
101(18)
Signposts
101(1)
Shares and securities
101(6)
Options and deposits
107(2)
Chattels
109(1)
Wasting assets
110(3)
Finance arrangements
113(2)
Assets appropriated to or from trading stock
115(4)
Chapter 5 Foreign issues
119(56)
Signposts
119(1)
Introduction
119(1)
Basis of the charge to CGT
120(1)
Foreign assets
121(3)
Location of assets
124(1)
Territorial limits of CGT
125(11)
Residence and ordinary residence prior to 6 April 2013 - the old law
136(1)
Statutory residence test to determine residence from 6 April 2013 the current rule
137(7)
Non-residents doing business in the UK
144(3)
Anti-avoidance: temporary non-residence
147(3)
Foreign assets of non-UK domiciled taxpayers
150(12)
Apportionment of non-resident company's gains
162(4)
Double tax relief
166(1)
Offshore (non-UK resident) settlements
166(3)
Penalty regime
169(1)
Increased penalties to tackle offshore tax evasion
169(2)
New criminal offence of failing to declare offshore income/gains
171(1)
Compliance disclosure opportunity - `requirement to correct'
172(2)
Extension of offshore limits
174(1)
Chapter 6 Partnerships
175(26)
Signposts
175(1)
How CGT applies to partnerships
175(4)
Partnership assets and `other' assets
179(3)
Disposal of partnership assets
182(4)
Change in fractional share of assets
186(5)
Limited liability partnerships
191(1)
HMRC Statement of Practice D12
192(9)
Chapter 7 Administration of an estate
201(22)
Signposts
201(1)
Introduction
201(1)
Capital gains tax in the period to the date of death
202(1)
Capital gains tax in the administration of an estate
203(9)
Legatee or beneficiary
212(1)
Main residence relief
213(3)
Deeds of appointment, variations or disclaimers
216(5)
Sales by legatees
221(2)
Chapter 8 Capital gains tax - settlements
223(42)
Signposts
223(1)
Introduction
224(1)
Definition of `settlement' and `settled property'
225(1)
The creation of a settlement
226(4)
Actual and deemed disposals by trustees
230(5)
Disposal of interests in settled property
235(2)
Sub-fund elections
237(1)
Rates of tax
238(3)
Particular transactions affecting trusts
241(2)
Exemptions and reliefs
243(7)
Main residence relief and trustees
250(5)
Main residence relief, trusts and hold-over of gain under TCGA 1992, s 260
255(2)
Settlor-interested settlements
257(2)
Residence of trust
259(2)
Trusts for vulnerable and disabled persons
261(2)
Compliance
263(2)
Chapter 9 Companies
265(30)
Signposts
265(1)
Basis of charge
265(4)
Rebasing
269(3)
Indexation allowance
272(5)
Capital losses
277(2)
Identification of shares
279(2)
Groups of companies
281(7)
Relief on disposal of shares
288(7)
Chapter 10 Land and property
295(24)
Signposts
295(1)
Outline
295(1)
Treatment of land transactions
296(1)
Part disposals of land
297(1)
Leases of land
298(7)
Residential property
305(2)
Furnished holiday lettings
307(4)
Non-resident CGT
311(4)
Annual tax on enveloped dwellings (ATED)
315(2)
Profits taxed as income
317(2)
Chapter 11 Main residence relief
319(34)
Signposts
319(1)
Scope of the relief
320(1)
What constitutes a residence?
321(5)
Other uses of a residence
326(4)
Extent of the property
330(4)
Periods of occupation
334(7)
Two or more residences
341(8)
Divorce and separation
349(4)
Chapter 12 Business asset disposal relief (formerly entrepreneurs' relief)
353(48)
Signposts
353(1)
Introduction
354(2)
Operation of the relief
356(9)
Claiming the relief
365(1)
Shareholders
365(11)
Sole traders
376(5)
Partners
381(3)
Trustees
384(1)
Post-cessation disposals
384(3)
Associated disposals
387(6)
Deferred gains
393(7)
Interaction with other reliefs
400(1)
Chapter 13 Hold-over relief for gifts
401(26)
Signposts
401(1)
Forms of hold-over relief
401(1)
Gifts of business assets
402(2)
Operation of TCGA 1992, s 165 relief
404(6)
Special situations
410(4)
When relief is denied
414(7)
Gifts subject to IHT (TCGA 1992, s 260)
421(2)
Where relief is denied or clawed back
423(1)
Claims and valuations
423(4)
Chapter 14 Roll-over relief for business assets
427(28)
Signposts
427(1)
Overview of roll-over relief
428(1)
Conditions
428(3)
Period for reinvestment
431(3)
Qualifying activities
434(5)
Asset classes
439(4)
Use of assets
443(2)
Operation of the relief
445(2)
Depreciating assets
447(3)
Claims
450(2)
Interaction with other reliefs
452(3)
Chapter 15 Incorporation of a business
455(20)
Signposts
455(1)
Overview
455(1)
Effect of the relief
456(2)
The conditions
458(7)
Election to forgo incorporation relief
465(2)
Computing the relief
467(5)
Interaction with other reliefs
472(3)
Chapter 16 Venture capital reliefs
475(46)
Signposts
475(1)
Four venture capital reliefs
476(2)
Seed Enterprise Investment Scheme
478(5)
EIS disposal relief
483(5)
EIS share identification rules
488(2)
EIS deferral relief
490(2)
How to claim EIS deferral relief
492(4)
What happens when the conditions are broken
496(3)
Interaction with other reliefs
499(4)
When EIS relief is withdrawn or clawed back
503(8)
Venture capital trusts
511(5)
Social investment tax relief
516(5)
Chapter 17 Investors' relief
521(12)
Signposts
521(1)
Overview
521(2)
Company conditions
523(1)
Investor conditions
524(3)
Share conditions
527(3)
Share reorganisations
530(1)
Claiming the relief
531(2)
Chapter 18 Other reliefs
533(16)
Signposts
533(1)
Employee-ownership trusts
533(2)
Employee shareholder status
535(2)
Loans to traders
537(4)
Share loss relief
541(6)
Gifts to the nation
547(2)
Chapter 19 Tax planning versus tax avoidance
549(15)
Signposts
549(1)
Tax planning
549(1)
Tax avoidance
550(1)
Basic tax planning
550(9)
Anti-avoidance rules
559(5)
Disclosure of tax avoidance schemes 564(5)
Index 569
Jacquelyn Kimber is a Tax Partner at Newby Castleman in Leicester. Her areas of expertise include business restructuring, for example through demergers, succession planning and the tax efficient extraction of profits.

Chris Erwood is a qualified associate of both the Chartered Institute of Taxation and STEP.

Iris Wünschmann-Lyall is a solicitor and specialises in estate planning, trusts, probate and tax related matters and is a Registered Trust and Estate Practitioner.