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Probate Property Sale – Capital Gains Tax ImplicationsWritten on August 2, 2017 by Kirk Rice LLP
I will cut to the chase immediately and say that there will be no CGT to pay on the sale of the probate property. Let me explain why; CGT is payable on gains only, and that means the ‘profit’ made on the sale. If we ignore to begin with that this was an inherited property, and […]
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How Will The New Dividend Tax Work?Written on May 12, 2016 by Kirk Rice LLP
Winners & Losers Not everyone will be worse off under this new system. Higher-rate taxpayers with £5,000 or less in dividend income will gain. Under the old system they would have paid 25% or £1,250 on dividends totalling £5,000, under the new rules their dividends fall within the tax-free allowance. However, basic-rate taxpayers who receive […]
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