How To Avoid Capital Gains Tax in 2013/2014 Paperback – 27 Jun 2013
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About the Author
Lee is a rarity among tax advisers having both legal and chartered accountancy qualifications. After qualifying as a prize winner in the Institute of Chartered Accountants entrance exams, he went on to become a Chartered Tax Adviser (CTA) and worked for Ernst & Young for several years. Lee is the author of several popular tax guides such as Non-Resident & Offshore Tax Planning and Tax Planning for Company Owners.
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Top Customer Reviews
And this is not just tax avoidance; after all, who wants to give up their hard earned cash to the Inland Revenue if it can possibly be avoided? This book explains in great detail how to minimise your liability. Lee Hadnum, an experienced legal and chartered accountant explains how to go about just that. Starting with a discussion about the main exemptions, he then goes on in more detail to cover such topics as moving abroad, annual exemptions, and even offshore trusts. I think it would be difficult to find another reference source so well written and so straightforward to understand. CGT is a complex topic, but Hadnum takes the sting out of understanding the detail. The actual calculation of liability is easy enough to make, but the allowances and possible exemptions are numerous, and whilst there's probably no substitute for good professional advice for each individual case, knowing a bit about the law never does any harm.
Capital gains tax, like most taxes, is calculated according to a complex formula. It's based on disposal proceeds, acquisition cost, deductible expenses, entrepreneurs' relief and an annual exemption, all of which are separately explained by Lee Hadnum. Which parts of this calculus apply to a given person isn't obvious, but should become clear after reading the details in a book like this one. The main way in which the burden of capital gains tax can be avoided, so I discovered, is by maximising one's claims to relief, and I've put this advice into practice. It's going to save me a lot more than the price of the book.
If you've recently sold an asset, such as property or shares, capital gains tax is going to be a major concern. It's important to pay legally mandated taxes, of course, but within the letter of the law there's a lot of leeway to make use of good tax advice. In particular, one can creatively manage one's finances in order to obtain all of the available reliefs. The reliefs tend not to be obvious or self-explanatory. I had already read about Entrepreneurs' Relief before I picked up this book, but not Gift Relief, EIS Relief or Rollover Relief. Now, not only do I understand the technical details of these forms of relief, but I know how to maximise my advantages within the law.
Apart from dealing with reliefs, there are abstruse techniques such as 'bed and spousing' that make it possible to maximise the capital gains tax exemption, which is worth up to several thousand pounds per annum.
Lee Hadnum's book is great: just the right length, very detailed, and clearly explained. I would recommend it to anyone who has to deal with a heavy capital gains tax.
In this outstanding book author Lee Hadnum in an easy-to-follow manner as well as step-by-step approach clearly illustrates how the average individual can equally benefit from tax reliefs and exemptions previously considered to be the sole province of the rich and well-to-do. Hadnum subtracts the mysteries surrounding the various relief packages involved in Capital Gains Tax such as: Entrepreneurs Relief; Rollover Relief; Gift relief; and EIS Relief. By so doing the author imparts invaluable knowledge to the reader on how best to maximise their claims to relief and thus ultimately minimise their tax liability and exposure.
Lee Hadnum has written an excellent guide that manages to simplify and clarify a somewhat complex and arguably boring topic into a straightforward and often entertaining read that neither bogs down the reader in a quagmire of hard-to-comprehend detail or confusion from subject-matter related particulars only understood by people in the field.
Most Recent Customer Reviews
Recipient found this book to be more geared to small business situations rather than individuals. Thought it would be more useful than it is but could not find anything books on... Read morePublished on 12 Jan. 2014 by midget witch
i purchased this book hoping it would give me an insight into avoiding CGT but it did not reveal any more imformation than i already knew in my view it was a waste of money had i... Read morePublished on 4 Dec. 2013 by donald r williams
Short and concise book but what we needed and did the job recommended. Short and concise book but what we needed and did the job recommended.Published on 13 Nov. 2013 by Bluecoat
I'm a novice investor and I am always looking for a leg up and seeking opportunities to educate myself about tax planning. Read morePublished on 29 Aug. 2013 by Karma
I recently completed one of Hadnum's other guides, World's Best Tax Havens. As was the case with that book, How to Avoid Capital Gains Tax 2013/2014 is very informative and... Read morePublished on 29 Aug. 2013 by Brian
Every year it seems new rules and regulations come out and not staying on top of them can be utter disaster for your pocketbook and piece of mind. Read morePublished on 20 Aug. 2013 by Elizabeth Rose
With tax laws constantly changing due to people who evade taxes and abuse the system, knowing more about those changes is important. Read morePublished on 14 Aug. 2013 by Aprilrain
No one wants to pay taxes and most of all we don't want to pay more than our fair share of taxes and Capital Gains tax can be a very difficult water to navigate. Read morePublished on 17 July 2013 by Rose Lynn