Capital Gains

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PHILIP FISHER highlights both a challenge and an opportunity for employers of expatriate employees

A husband and wife own a property jointly, but a second property has recently been purchased solely in the husband’s name. The husband and wife will both live for part of the week in one property and part in the other

De-grouping charge; value shifting rules; losses following change of ownership

A husband and wife live in different properties, although they have not formally separated and they do holiday together

A mother lives in a house, half of which is owned by her children who acquired it from their father when their parents divorced

A family own shares in a property development company and are also the partners in a property investment partnership

There have been important capital gains tax changes this year. BARRY HALLAM explains

Communal areas reclassified as dwelling-houses

Some years ago, a company was dissolved and its director was made bankrupt. However, the director owed the company £75,000 and HMRC contend that there is a liability under TA 1988, s 421 for 2009/10

A barn is purchased and several years later it is converted to a dwelling that is then used as a main residence. Most of the gain relates to the increase in value of the dwelling.

Gold investment; wills and CGT implications; inheritance and CGT shares; and family loan agreements

Trust and estates in-year cessation cases

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