Capital Gains Tax (CGT) is charged on your net gains during a tax year:-
- CGT is charged on disposals during the tax year, after deducting total allowable losses
- You can carry forward losses from previous years
- CGT arises on disposal of an asset - normally on sale, but gifts, insurance claims or compensation for losses can be chargeable disposals
- The value of the gain is normally the amount you receive, but gifts and certain sales may be valued at the open market value
- CGT is not normally payable on death
We are able to offer comprehensive guidance about Capital Gains Tax.
Our Capital Gains tax service includes advice on:
- Allowable losses
- Chargeable gains
- CGT reliefs on shares
- CGT reliefs on Property
- Deductible expenses
- Entrepreneur's relief
- Gift Hold Over Relief
- Business Asset roll over relief
- Private Residence relief
- Passing assets on to the next generation
- Maximising venture capital reliefs
Please contact us to discuss how we might be able to reduce your CGT.
