CGT Practical Update (Oct 24)
Category: Tax | Duration: 2hrs | Tag: VODCPDFUK24D3S2 | Type: Video | Course Level: Intermediate | Speaker: Barry Jefferd | Date: 31/10/2024 12:00
Course Details
Capital Gains Tax (CGT) typically affects individuals and businesses who are looking to dispose of something that could be considered an ‘appreciating asset’. As with any tax, careful and proactive planning is often the key to minimising liabilities, and with CGT in particular timing is often paramount. The OBR estimates that CGT will raise £15.2 billion (0.5% of national income) in 2024/25, which equates to £530 per household. Considering that CGT is likely to be a target for the new administration in the upcoming Autumn Budget, the impact of any significant changes to policy is bound to be felt far and wide. This presentation covers the most common strategies that can be used to minimise CGT liabilities, and how these are impacted by any announcements in the Chancellor’s Budget, giving you a clear idea of how to move forward with tax planning in the months ahead.
In this session, we discuss the importance of timely and thorough planning when it comes to CGT, considering the large sums of money often involved. We discuss the outcome of the Autumn Budget in relation to CGT, and what any announcements mean for planning already undertaken and moving forward.
- The importance of proactive planning in respect of CGT
- Common CGT planning strategies, including use of reliefs
- The outcome of the Autumn Budget and how this will influence planning and liabilities moving forward (as well as planning already undertaken), for both private clients and businesses
- Practicalities of communicating changes to clients and identifying those most significantly impacted
- Key considerations when it comes to mitigating the effects of the Budget and how to match strategy to circumstance
CPD Course Speaker
George Hay Chartered Accountants
Barry Jefferd
Barry Jefferd is the Taxation Partner at George Hay Chartered Accountants, advising on all major taxes with specialist expertise in Capital Gains Tax, Inheritance Tax, Trusts and property/land transactions. He lectures widely for professional bodies and holds qualifications as a Chartered Accountant, Chartered Tax Adviser, and STEP member.
Barry was one of the first accountants in the country to pass the Institute of Chartered Accountants in England and Wales’ probate qualification and now heads up GH Probate Ltd – the probate division of George Hay. He is also a director of GH Wills Ltd, George Hay’s division providing bespoke Will writing services.
He supports other accountancy firms with probate and specialist tax matters, and he is an expert in Share and Business Valuations having appeared in both the High and County Courts as an expert witness. He is currently Deputy President of the Association of Tax Technicians (ATT), the country’s leading professional body dealing with tax compliance.
Barry was one of the first accountants in the country to pass the Institute of Chartered Accountants in England and Wales’ probate qualification and now heads up GH Probate Ltd – the probate division of George Hay. He is also a director of GH Wills Ltd, George Hay’s division providing bespoke Will writing services.
He supports other accountancy firms with probate and specialist tax matters, and he is an expert in Share and Business Valuations having appeared in both the High and County Courts as an expert witness. He is currently Deputy President of the Association of Tax Technicians (ATT), the country’s leading professional body dealing with tax compliance.