Capital Taxes - Essential Issues and Developments

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. 

Content 

• CGT on separation and divorce  
• Purchase of own shares: the multiple completion problem  
• Main residence relief – meaning of ‘period of ownership’  
• Case study on CGT lettings relief following the change in FA 2020
• A CGT trust uncertainty resolved  
• Goodwill and S165 TCGA 1992 relief  
• Freezing operations  
• Income gifts to fund trusts  
• Planning with related settlements 
• Changes to the geographical scope of certain IHT reliefs  
• Calculation of claim for pre-deceased spouse’s unused nil rate band