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This Practical Tax Database and Virtual Tax Partner® Toolkit is your online tax partner. It answers all your key tax FAQs, is packed with useful and practical tax and business guidance.

The information gathered here is split into tax planning guides, FAQs, know-how and tools. With worked examples and tax compliance checklists.

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Compliance

From 27 October 2021:

  • The 30-day reporting and payment deadline for disposals of UK residential property is extended to 60 days.
  • This will also apply to disposals by Non-UK residents.
  • This extension will affect disposals that complete on or after 27 October 2021.
  • The change will be included in Finance Bill 2022.

 Capital Gains Tax rates and allowances

  • There were no other changes announced by the chancellor affecting CGT rates, allowances and exemptions
  • These all remain unchanged from 2021-22: the annual exemption remains at £12,300 per individual and £6,150 for trustees.

Useful guides on this topic

Autumn Budget 2021: At a glance
A summary of key budget announcements together with items published without announcement.

CGT: Reporting, how to report CGT? 
How and when does Capital Gains Tax apply to non-residents owning UK property?

CGT: Payment of tax
When is Capital Gains Tax (CGT) due? Can I pay in instalments? What are the penalties if I pay late? 

VtaxP Tax Tools
Save time in working through the rules for Business Asset Disposal Relief .

 


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