Capital Taxes Update and Refresher

Course outline:

This course will cover key issues and recent developments across IHT and CGT including SDLT where relevant. 

In May 2021, the OTS’s second report into the design of CGT was published, as a result of which the Government decided to relax the CGT rules on marriage breakdown. In planning terms, it is generally agreed that, where there is a business disposal involving an earn-out, the additional payment should be in cash rather than in kind and, with own share purchases, there is a new problem with multiple completion transactions.

Recent case law has resolved an important trust issue in the Court of Appeal and, as always, there are the inevitable complications with CGT and property. Where IHT is concerned, the use of S21 IHTA 1984 relief as a means of avoiding a charge on a transfer to a trust is becoming more widely appreciated and there will be material changes next year to the agricultural and woodlands reliefs.

In summary, there has been no shortage of noteworthy developments in the field of capital taxation with which practitioners need to be familiar. 

CPD Hours: 3