Minor Gains: What You Need to be Aware of
Category: Tax | Date: 18/04/2024 12:10 | Duration: 100 mins | Tag: SPTXUK24D2S2 | Type: Webinar | Speaker: Carl Bayley
Course Details
The Capital Gains Tax (‘CGT’) annual exemption has fallen dramatically from £12,300 in 2022/23 to just £3,000 in 2024/25. This has major implications for tax planning, reporting, and practice workload, with tens of thousands more taxpayers being caught in the CGT net. In this session, we will look at the issues practitioners need to be aware of to enable them to advise clients on other ways to mitigate their CGT bills, and prepare for the additional workload coming their way.
Carl Bayley will cover the following topics during this webinar:
- A brief recap of the current CGT regime, including reporting requirements.
- Maximising the deductible base cost: what is allowable?
- Base cost quirks to watch out for
- CGT reliefs: savings and deferrals
- Practical tips on calculating CGT for clients.
By attending this session, delegates will be prepared to deal with the significant increase in the number of taxpayers caught in the CGT net arising as a result of the dramatic reduction in the annual exemption.
The session will be of benefit to general practitioners, tax advisers, and accountancy students.
Course Level: Intermediate
CPD Course Speaker
BSc FCA, Author and Presenter
Carl Bayley
Carl Bayley is the author of a series of ‘Plain English’ tax guides designed specifically for the layman and the non-specialist. His particular specialty is his ability to take the weird, complex, and inexplicable world of taxation and set it out in the kind of clear, straightforward language taxpayers themselves can understand.
Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’ for the Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.
Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’ for the Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.