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You are here: Home » Private Clients » Capital Gains Tax Planning

Capital Gains Tax Planning


Income tax is just the start of your tax story. If you sell or give away an asset that has increased in value, you may also be charged capital gains tax on the “gain” or profit.

As with income tax, advance planning allows you to minimise your capital gains tax liabilities.

For example, we can advise on the disposal of business assets so that you receive the maximum benefit from the appropriate tax reliefs. Seeking our advice as far in advance of the transaction as possible is a wise move to give yourself the greatest tax advantage.

We can also advise on the best approach to disposing of other assets, particularly properties other than your main home, where you may be able to claim several special tax reliefs.

The timing and value of quoted share disposals can be a complex matter, but by seeking the advice of our dedicated tax team, we can help you to make the most of the annual exemptions available.

The Financial Conduct Authority does not regulate tax advice.

To find out more about how we can help you, please contact LRH accountants in Calderdale.

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Telephone: 01422 360788

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Latest News

Furlough scheme update – Publication of claims and employees serving notice

November 16th, 2020

HM Revenue & Customs (HMRC) has confirmed that employees serving notice cannot be claimed for from the Coronavirus Job Retention Scheme (CJRS) from 1 December 2020 onwards.

It has also confirmed further details of plans to disclose details of claims made by employers from December onwards.

Notice periods

The change means employers cannot claim furlough grants in respect of employees serving any contractual or statutory notice periods from 1 December onwards. This includes employees serving notice of redundancy, as well as those who are serving notice of resignation or retirement.

In circumstances from 1 December onwards where you have already submitted a claim and an employee subsequently begins a notice period, you must make an adjustment.

For claims relating to November, you can still claim for employees serving statutory notice periods. However, CJRS grants cannot be used to substitute redundancy payments.

Redundancies must be made in accordance with employment law, while statutory redundancy and statutory notice pay must be calculated based on an employee’s usual wages.

Publications of claims

HMRC has also published further details of plans to publish information about claims for periods from December onwards.

HMRC previously confirmed plans to publish the names and registration number of limited companies and Limited Liability Partnerships (LLPs) claiming CJRS grants.

It has now clarified that this applies to all employers claiming from the scheme, including individuals, ordinary partnerships and trusts, unless they can demonstrate doing so would lead to a “serious risk of violence or intimidation”.

HMRC will require evidence of this threat, which could include:

  • A police incident number;
  • Documentary evidence of a threat or attack; or
  • Evidence of possible disruption or targeting.

At the same time, HMRC has also said that, in addition to employer names and reference numbers, it will also publish “an indication of the value of the claim”.

Further information about what this will mean in practice and how to request that claim information is not published is expected by the end of November.

For advice on furlough and the CJRS, please contact us today.

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