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CGT - Coggle Diagram
CGT
Replacement of Business Assets Relief (ROBR)
DEFER CGT on sale of
qualifying business assets
IF they are
reinvested into other qualifying assets
1 year before or 3 after, like EIS
Qualifying Assets = Business:
Land
Plant
Machinery
Buildings
ONLY ONE AVAILABLE FOR COMPANIES!
Business Asset Disposal Relief (BADR)
10% rate on disposals up to £1,000,000 lifetime cap
Applies to
3 assets
Assets
used for /your personal company/partnership's 's
trade/profession
in
last 2 yrs
Your own
sole tradership or partnership
or your
company
if shares above 5% and you're officer/employee - (ALL for at least 2 years)
Incorporation Relief
Transferring your business or partnership to a
company
Gain from transfer is
deferred by:
Subtracting gain from acquisition cost of company shares
Gain is then taxed when transferor
disposes of shares
Holdover GIFT Relief
(HOGR)
When
donor and donee AGREE
to delay CGT
When Donee sells, they pay:
The delayed CGT from the donor's gain; AND
Their own gain
Applies to
4 assets
Assets
used for
your
/your personal company's
trade/profession
in
last 2 yrs
Shares in
unlisted
company (that is trading)
Shares in
personal company
Assets qualifying for
agricultural property relief
Who pays CGT?
Everyone
except COMPANIES
Enterprise Investment Scheme (EIS)
Any chargeable gain can have its tax delayed by:
1 year before
gain or up to
3 years after
, investing in EIS Shares
Deferred gain chargeable
once shares sold