When a client sells a company, gifts shares to a son or daughter, or incorporates a sole trade, the first question is almost always: what tax will this cost? Capital gains tax sits at the heart of that answer. As a solicitor advising on business and personal disposals, you need to spot when a charge arises, work out the gain, and reach for the reliefs that can cut the bill — sometimes to nothing.
This lesson builds that skill step by step, from the basic mechanics to the business reliefs that matter most in practice.
What this lesson covers:
- Scope, Disposals and Exempt Assets — when CGT bites, who pays, what counts as a disposal, and which assets escape entirely.
- Computing the Gain — deducting allowable costs and enhancement expenditure, including part disposals.
- Losses, Annual Exempt Amount and Rates — the fixed order for losses, the exemption and the applicable rates.
- Death and Spousal Transfers — the free uplift on death and the no gain no loss rule between spouses.
- Principal Private Residence Relief — exempting the family home, including deemed occupation and elections.
- Business Reliefs — BADR, holdover, incorporation and rollover relief.
- Reporting and Payment — the 60-day property return and the standard self-assessment deadline.