Capital Gains

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The Government will not be reversing its plan to withdraw taper relief, despite 'constructive' discussions between the Chancellor and leading business organisations

Withdrawl of taper relief is to be the focus of a discussion between the Chancellor and major business groups

ALLISON PLAGER and RICHARD CURTIS review some of the more important aspects of the Pre-Budget Report

KEN TINGLEY reflects on both his time as the editor of Taxation magazine from 1978 to 1984, and on government and taxation changes

HMRC have announced that the latest National Statistics on capital gains tax will be delayed until 31 October.

Maclean and another v CRC, SpC 594, 19 February 2007

ROGER LAWES reconnoitres the new layout of self assessment tax returns

Is there more to the taxation of private equity than meets the eye, asks RICHARD PALMER

Share capital

HMRC say that they cannot provide a list of foreign entities that they consider to have 'ordinary share capital' for the purposes of TA 1988, s 832 as each case will have its own particular set of facts. Thus it is not feasible for an exhaustive list to be created.

CGT and private residence relief

HMRC have changed their view on the entitlement to capital gains tax letting relief under TCGA 1992, s 223(4) where a private residence was occupied by a dependent relative before 6 April 1988.
Previously, HMRC were of the opinion that relief under s 223(4) would not be available where only or main residence relief is due on a residence occupied by a dependent relative. HMRC now consider that lettings relief may be due. CG64718 will be amended to reflect this change of view and CG65562 will be withdrawn.

MATTHEW HUTTON considers FA 2006, Sch 20. What should be done with trust structures in place on 22 March 2006?

REBECCA MURRAY considers the application of the rules relating to pre-entry losses in two recent Special Commissioners' decisions.

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