What is Capital Gains Tax?

Capital Gains Tax (CGT) is a tax that’s payable on any profit made after selling assets. It is declared and paid through a Self Assessment tax return.

Assets that are subject to Capital Gains Tax if sold at a profit include:

•    Properties – including second homes, buy-to-let properties and agricultural land
•    Business assets
•    Shares
•    Personal possessions worth more than £6,000 which are not classed as “wasting assets”.

A “wasting asset” is one which has a limited lifespan, of 50 years or less.
CGT also applies to any properties that you own and sell overseas, so long as you are a resident of the UK.

What’s exempt from Capital Gains Tax?

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If you’re struggling to scratch together the deposit to buy a home in Wales, then the Help To Buy scheme could be the assistance that you need. The new government regulation offers thousands of people across Wales the chance to own something that you can really call home.

What exactly is it? How does it affect people in Wales? 

What is the Help To Buy scheme?

Help To Buy consists of two separate initiatives which aim to make it easier for people to buy their own home. The two parts both present different ways for people with small deposits to find a mortgage in Wales. Those two parts are:

•    UK Mortgage Guarantee Scheme

•    Help To Buy Wales

The UK Mortgage Guarantee Scheme

Available for all properties across the UK up to a value of £600,000, this government initiative allows any first-time buyer or homeowner in the UK arrange a mortgage with a lender with a deposit of just 5%.  More...

Due to the higher than average levels of stress associated with their jobs, it is perhaps not surprising that divorce rates where one partner works in the police force are twice the national average. The physical danger and conflict which is inherent in their jobs can have a lasting impact on their relationships, and matters can quickly deteriorate.

If a police officer is going through a divorce or separation, the desire to protect the pension they have worked so hard for understandably features highly on their list of priorities. This is precisely why they should seek the best possible advice from a legal team who take the time to stay on top of the latest new pension regulations and matters such as pay and rent allowance.      

Police pension schemes More...

It is a common myth that you are not able to file for a divorce if you do not know where your spouse is living at the time. It is a relatively widespread misconception that if people wait for five years then they are able to file for a divorce without their spouse being any the wiser, but this is not the case.

Officially, for your divorce to be completed, the court requires that your spouse is either served with the divorce, or you must prove that you have done everything in your power to find them without success. 

Your attempts to locate them can be evidenced by contacting their:

•    Friends
•    Relatives
•    Last known employer
•    Bank or building society
•    Trade union or professional organisation More...

Whether it’s a sad indictment of relationships today or a sign that the stigma associated with divorce is on the wane, but divorce rates, particularly amongst older couples, are on the up. Based on the most recent figures, 39 % of those couples who marry today will divorce.     

When a marriage does end in divorce, it is a common gripe of fathers that they do not feel their rights are properly protected in law. And to an extent they’re right, depending on whether the parent has Parental Responsibility for the children or not. Parental Responsibility determines your duty of care for your child and your obligation to protect them.

In divorce cases, the vast majority of fathers are desperate to remain as actively involved in the upbringing of their children as they can once the divorce has been settled. This can cause much frustration and leads fathers doubting their rights and responsibilities.  More...