Michael Sohor & Co is now known as Tamen Accountants. This is a name change only - we are the same dedicated team, and look forward to serving our valued clients for many years to come.
Readers may have noted that the Chancellor announced a significant reduction in the annual Capital Gains Tax allowance, currently £12,300, from April 2023.
It is reducing to £6,000 from April 2023 with a further reduction to £3,000 from April 2024.
Taxpayers who are contemplating the disposal of a chargeable asset next year, which will create significant chargeable gains, should consider organising these disposals before, rather than after, 5 April 2023; unless they have already crystalised gains during 2022-23 and fully used their £12,300 tax-free allowance.
And don’t forget, married couples and civil partners both qualify for the £12,300 allowance in which case organising joint ownership of these assets before disposal may be beneficial.
Share this post:
Our team are waiting to answer any question you may have via our live chat feature.
Call us on:
Email us on:
26th Feb 25 | Updates/ News
Big changes are here for the self-employed! From 2024-25, profits must align with the tax...
Many businesses have a 31 March year end date, which means they are now in...
Building Brand AwarenessSocial media platforms provide an unparalleled opportunity to reach a broad audience and...
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.