New Forest

17/03/2020

Look at Year End CGT Planning before the deadline

Have you used your 2019/20 £12,000 annual capital gains exemption? Consider selling shares where the gain is less than £12,000 before 6 April 2020.

Also, if you have any worthless shares consider a negligible value claim to establish a capital loss. You may even be able to set off that capital loss against your income under certain circumstances which could save tax of up to 45% of the loss.

For further information on Capital Gains Tax planning, please contact Helen Spalding on 023 8046 1234.

Latest Tweets

Both the Academies Accounts Direction (AAD) and Academies Financial Handbook (AFH) were issued in June by the ESFA. We have produced our summary fact sheet on both for you in July!
https://www.hwb-accountants.com/news-guides/news/academies-latest-guidance/

Investors who wish to take funds from their Lifetime ISA (LISA) to support their income during the pandemic can benefit from a reduction in the withdrawal charge.

The charge, was reduced from 25% to 20% from March 6 and will apply until April 5, 2021.

https://www.gov.uk/guidance/lifetime-isa-withdrawal-charge-reduced-to-20

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