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Exploring Potential Ways to Reduce Your Capital Gains Tax (CGT) LiabilityWritten on June 22, 2026 by Alex Moody
Key points on CGT for 2026: Capital Gains Tax applies to profits made on the sale or transfer of certain assets, including property that is not your main residence, shares held outside an ISA, and higher-value personal possessions. For the 2025/26 and 2026/27 tax years, the CGT annual exempt amount is £3,000, with tax rates […]
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Getting Ready for MTD: Bite-sized clipsWritten on December 22, 2025 by Kirk Rice LLP
If you’ve heard about Making Tax Digital (MTD) but aren’t quite sure what it means for you — or how income information is reported to HMRC under this new system — you’re not alone. Below we’ve outlined the basics. You’ll also find some handy bite-sized videos about how to get ready for MTD. In a […]
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Capital Gains Tax On UK Property And LandWritten on September 10, 2025 by Kirk Rice LLP
Capital Gains Tax 60-Day Reporting Explained Yes, there is, and quickly! Anyone who sells, gifts or otherwise transfers UK residential property or land on which a capital gain arises is required to report that gain to HMRC within 60 days from the date of completion, and pay the capital gains tax liability arising by the […]
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Making Tax Digital (MTD) for Income Tax: Frequently Asked QuestionsWritten on April 23, 2025 by Kirk Rice LLP
Who does MTD for Income Tax apply to? MTD applies to self-employed sole traders and people in receipt of income from UK and overseas property with gross ‘qualifying income’ above the relevant thresholds as follows: £50,000 from April 2026 £30,000 from April 2027 £20,000 from April 2028 It is the combined gross income (before expenses) […]
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Making Tax Digital (MTD) : Rules for Landlords from 6 April 2026Written on April 8, 2025 by Kirk Rice LLP
This will affect individuals with the following sources where the aggregate of these sources exceeds £50,000 gross (before the deduction of expenses), although this threshold falls to £30,000 gross from 6 April 2027, and to £20,000 gross from 6 April 2028: Rental income from UK rental properties Other UK property income such as reverse premiums […]
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Making Tax Digital (MTD) For Income Tax: Important Changes Taking Effect From April 2026Written on March 28, 2025 by Hadley Baldock
Who is affected by Making Tax Digital (MTD)? New tax law is now in place which will take effect from April 2026 and will be obligatory to the following individuals: Landlords and other individuals with gross qualifying income of £50,000 or more from all UK properties. UK tax resident individuals with gross qualifying income of […]
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