If you sell a residential property in the UK after 6 April 2020 and have capital gains tax (CGT) due, you must report the gain and pay the CGT within 60 calendar days of selling the property. Failing to report and pay, you will be subject to late filing and …
Category: Capital Gains Tax
When exiting a limited company, entrepreneurs need to extract retained profit from their company. Normally, profit taken from a company would be treated as dividends, and incur the corresponding income tax liability. However, a much-preferred option as we’ll see is to qualify for entrepreneurs’ relief and to treat profit as …