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Wednesday, June 16, 2010

Emergency CGT planning guide

Landlords looking at beating the widely expected increase in Capital Gains Tax should check out the new tax guide from Carl Bayley, the respected property tax expert at Tax Cafe.

The book aimed at property investors and landlords has a range of strategies for beating any CGT increase without selling your property assets.

Like all Taxcafe guides this one contains plenty of real-life examples and is written in plain English. Subjects covered include:

Answers to key tax questions such as:

* How will my investments or business be affected by the CGT increase?

* When will the increase take effect (will it be June 22 this year or later)?

* What action should I take now?

* How to beat the increase without selling off properties or business assets cheaply?
* How to keep investments in the family and still halve the CGT bill.?
* How to preserve an extra 23% of the value of your investment.
Transfers to family members – who can you transfer assets to and what are the benefits and drawbacks?

* The benefits of transferring assets to a trust or company instead.

* How to “dispose” of your properties or business but still keep control of them.

* How to keep receiving income from your assets after you transfer them.

* Using a trust to transfer assets to minor children.

* Using a company to shelter a business or investments from the CGT increase.

* How you can make the most of all the existing CGT reliefs including Principal Private Residence Relief, Private Letting Relief, Entrepreneurs Relief, Holdover Relief, Rollover Relief and Incorporation Relief.

* How to structure a business transfer to get the best CGT deal… whatever happens.

* Examples weighing up the transaction costs and other hidden costs versus the potential tax savings.

* How to hedge your bets: ways to reverse your tax planning if you need to.

* How to get a little extra time to beat the CGT increase.

* How the Government’s own anti-avoidance rules can help you avoid the CGT increase.

* Other taxes you need to consider, including inheritance tax and stamp duty.

Get expert tax advice

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