What is the course about?

Companies and individuals can own assets. An individual can acquire assets by purchasing them, inheriting them, or receiving them as a gift. For companies, asset ownership is primarily through acquisition. In whatever manner of acquisition, at a certain point, both the individual and the company may decide to sell or dispose of these or some of the assets they own. During this period, capital gains or losses are calculated. The capital gains tax course teaches individuals and companies how to determine gains or losses on the sale of all or part of their assets and the actions that follow.

Why is the course relevant?

The course would help students understand how gains from the sale of assets are taxed and how to plan for that tax legally. Its value really depends on who you are and what you deal with. It matters when you sell assets such as real estate, land, chattel, businesses, or business assets. A sound understanding of capital gains tax positions an individual for highly sought-after roles in many accounting firms.

Who is the course for?

• For students of accounting.

• An established or aspiring tax practitioner who desires to offer advisory services to clients as it relates to the capital/chargeable gains tax system in the UK.

• For those who are already functioning in the accounting sector, but desire to upskill in this area of accounting.

What you will learn from the course:

By the end of this course, the learners should be able to:

• Calculate chargeable gains and allowable losses for:

v Chargeable assets.

v Part disposals

v Chattels.

• Understand reliefs and exemptions, such as:

v Availability of annual exemption amount,

v Calculate net capital gains after the application of relevant reliefs.

• Calculate capital gains tax payable:

v Offset capital losses, current year and brought forward.

v Apply all rates of capital gains tax.

What is included in the Course:

The course is set out as follows:

Lesson 1: Introduction to CGT-Understanding Key Terms.

Lesson 2: How to calculate capital/chargeable gains for individuals & companies.

Lesson 3: How to treat capital losses and calculate taxable gains in a tax year.

Lesson 4: How to apply special rules on specific disposals.

Lesson 5: Rollover reliefs and tax planning considerations.

Lesson 6: Business Asset Disposal Part 1

Lesson 7: Business Asset Disposal Part 2

Lesson 8: Business Asset Disposal Part 3

About Me:

Maureen Okwara-Amazu is an educator, accountant, and bookkeeper with a passion for equipping others with business skills. I had the opportunity to deliver Business and Personal Tax Financial Statements for Limited Companies, as well as bookkeeping courses, at a college in the UK. Over the years, I have supported many students who have gone on to become accountants and bookkeepers. Over the years, by facilitating learning and guiding students both physically and visually, I have made most of the topics I have delivered practical and easily understandable. The capital gains tax course is delivered in the same manner, with concepts explained clearly and made accessible to beginners. The capital gains tax course is an aspect of personal and business taxation, delivered separately for clarity.