Make sure you have appropriate travel insurance in case you have unexpected costs. In most cases the costs of setting up and operating these arrangements outweigh the potential tax savings. Dependent on the legislation item being viewed this may include: Use this menu to access essential accompanying documents and information for this legislation item. You’ve accepted all cookies. The surplus of £1,400 brought forward from 2018-19 is not used and so is “lost”. This measure increases the Capital Gains Tax annual exempt amount to £12,300 for individuals and personal representatives and £6,150 for trustees of settlements for the period 2020 to 2021. Austria, Croatia and Trinidad and Tobago removed from the travel corridor list at 4am Saturday 22 August. If you do travel abroad, you will have to follow the coronavirus rules in the place you travel to. If you visited somewhere that is not on the list in the 14 days before your arrival in England, you will need to self-isolate. This applies to UK residents and visitors to the UK. For more information, see our. Liechtenstein will be removed from the list 4am 25 October. Italy, San Marino and Vatican City State will be removed from the England travel corridors list at 4am, Sunday 18 October 2020. Read the rules about when you need to self-isolate and for how long. The Greek Islands of Corfu, Crete, Kos, Rhodes and Zakynthos have not been removed from the list and are not affected. 2020-21 1992 c.12. A Tax Information and Impact Note covering this instrument will be published on the website at: https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins. Read the rules about when you need to self-isolate and for how long. The unused balance of £800 is carried forward to 2020-21. Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Any part of the annual exemption that is not set against gains in the tax year is lost. Austria, Croatia and Trinidad and Tobago to be removed from the travel corridor list at 4am Saturday 22 August. For example, Colin makes transfers of £4,000 to Cora and £8,000 to Clare on 3 September 2019. No changes have been applied to the text. Environmental, Social & Governance range of funds, Support on improved online services for Retirement Account. The relevant legislation is comprised in the Inheritance Tax Act 1984 section 19. If you arrive in England from Greece or Akrotiri and Dhekelia before 4am Saturday 14 November, you may not need to self-isolate. All content is available under the Open Government Licence v3.0, except where otherwise stated, National restrictions in England from 5 November, Capital Gains Tax: annual exempt amount for tax year 2019-20, Changes to the annual exempt amount for Capital Gains Tax for the tax year 2020 to 2021, Capital Gains Tax on high value residential property, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases. This will also have the effect of increasing the annual exempt amount for trustees of settlements to £6,150. If you arrived in England from Germany or Sweden before 4am Saturday 7 November, you may not need to self-isolate. If you’re not a UK financial adviser, please visit the customer website: pru.co.uk. You should complete the form before you enter the UK. You will need to self-isolate for up to 14 days - the exact number of days depends on when you left the non-exempt country, territory or region. The first report covers day to day matters of concern to all those that responded to the consultation and deals with admin matters. Dependent on the legislation item being viewed this may include: Click 'View More' or select 'More Resources' tab for additional information including: All content is available under the Open Government Licence v3.0 except where otherwise stated. You leave the non-exempt country and you spend 2 days in a country that is on the travel corridor list. The gift of £2,200 is wholly covered by the current year’s annual exemption. Germany and Sweden will be removed from the travel corridors exempt list 4am, Saturday 7 November. £1,400 is carried forward to 2019-20. The AEA for 2019-20 was £12,000. The annual exemption is similar to the personal allowance for income tax in that the amount of gains covered by the annual exemption is not chargeable to capital gains tax (CGT). If you arrive in England from Germany or Sweden after 4am Saturday 7 November, you will need to self-isolate. This may include self-isolating, providing your details to local authorities, testing for coronavirus, or even restrictions on entry. Do not travel if you have coronavirus symptoms. All content is available under the Open Government Licence v3.0, except where otherwise stated, National restrictions in England from 5 November, Countries, territories and regions on the travel corridor list, Arrival in the UK – passenger locator form, Travelling abroad from the UK – foreign travel advice, work, education or other legally permitted reasons, South Georgia and the South Sandwich Islands, St Helena, Ascension and Tristan da Cunha, the rules about when you need to self-isolate and for how long, rules about when you need to self-isolate and for how long, people who don’t have to complete the form because of the jobs they do, Coronavirus (COVID-19): jobs that qualify for travel exemptions, Find out the coronavirus restrictions in a local area, Making a support bubble with another household, Coronavirus (COVID-19): safer air travel for passengers, Coronavirus (COVID-19): safer travel guidance for passengers, Coronavirus (COVID-19): transport and travel guidance, Driving and transport in the UK during coronavirus, International travel, immigration and repatriation during coronavirus, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases, Sovereign Base Areas of Akrotiri and Dhekelia, you or other passengers get off the transport you are on and mix with other people, then get on again, no-one on-board gets off and mixes with people outside, passengers get off but do not get back on, no-one in the vehicle gets out, mixes with other people, and gets in again, someone gets out of the vehicle, mixes with other people and gets in again.