The changes to the Capital Gains Tax (CGT) threshold announced in the Autumn Budget last year will see the current Annual Exemption Allowance (AEA) reduce by over 50% this April, from £12,300 down to £6,000. It’s then due to be reduced further to just £3,000 in April 2024.
Whether it’s a second home or residential property investment, CGT and offsetting legitimate costs will remain a hot topic for the next 12+ months. so we’ve invited back Mark Stemp, Tax Partner at Crowe UK, to take a deep dive into the latest CPG rules on the sale of a residential property. By joining this webinar you’ll have gained a greater understanding of:
• A framework of tax aspects to consider when calculating your ROI to assist with a decision to sell or not.
• How to calculate CGT on the disposal of a residential property and what costs can be deducted when calculating the gain.
• Main Residence Relief, which is applicable for landlords or second home owners who have lived in the property as a main residence in the past.