Appropriation of assets for CGT purposes – how does this work in practice

Event details

Date: 7th December 2023
Time: 11:00am - 12:00pm
Venue: Online via Zoom

This event has already happened.

Join ILM corporate partner Hugh James as they cover Appropriation of assets for CGT purposes – how does this work in practice with Jessica Forrester and Vashti Williamson

In light of the reduction of the annual CGT allowance and the strict deadlines now imposed by HM Revenue and Customs in regards to paying and reporting CGT, it is important for personal representatives to consider how they can mitigate any CGT liabilities within an estate. In this Q&A style session, Jessica Forrester and Vashti Williamson of Hugh James will explore what steps personal representatives should be taking when there is a potential exposure to capital gains tax within an estate.

In particular they will review:

  • CGT tax rates and allowances – Specifically, the changes introduced in April 2023 and the further changes which will come into effect in April 2024;
  • What questions charities should be asking the personal representatives when CGT could arise;
  • The appropriation of assets to charitable and non-charitable beneficiaries; and
  • s.119 of the Charities Act 2011