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Expert advice on reducing Capital Gains Tax

Capital Gains Tax

Capital Gains Tax (CGT) is charged when you sell or dispose of a capital asset that has increased in value. You are charged on the profit you have made on the asset during the tax year.

The conditions associated with Capital Gains Tax include the following:

  • You can carry forward losses from previous years.
  • CGT arises on the 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.

How we can assist with Capital Gains Tax

At Nelsons, our expert team of personal tax solicitors in Derby, Leicester and Nottingham can provide advice on CGT as part of the administration of an estate or Trust and passing on assets to your loved ones (including Inheritance Tax considerations).

If you require general advice concerning Capital Gains Tax, please get in touch with an accountant.

Our trusted expertise

Our team keeps up to date with the latest tax planning processes available so that we can always supply our clients with the best advice and service possible.

The team is also recommended by the independently-researched publication, The Legal 500, as being one of the top teams of experts in the country, and also includes solicitors who are full members of the Society of Trust and Estate Practitioners (STEP) – an international professional body for practitioners specialising in inheritance and succession planning.

Testimonials…

  • "Nelsons Solicitors Limited has an extensive offering, with practitioners having experience of trust administration, Court of Protection work, investment management, wills and probate. A key feature of the practice is its innovative, online wills service."

    The Legal 500

  • "The legal work has been excellent and on time. A major difference between Nelsons and other major law firms we have dealt with is that they focus on a personal touch. Knowing they are there and can check up on any changes we need to make on legal issues is comforting."

    The Legal 500 2023

  • "Nelsons Solicitors Limited‘s reputable practice is a well-established player in the Midlands and acts on matters ranging from wills and estates, lifetime and tax planning, asset protection and care fee planning, through to trust structuring, with a focus on high net-worth individuals and those with international assets."

    The Legal 500 2023

  • "Key strengths and capabilities in my opinion are: – the ability to visit clients at home which reduced anxiety for our family – professionals who are knowledgeable, approachable and respectful – Clear and accurate information regarding the processes involved – Efficient delivery of paperwork, etc."

    Referee feedback provided to The Legal 500 2024

Wills Solicitors

Need CGT advice? Contact us

For further details of the Capital Gains Tax advice that our expert team of solicitors can provide, please call 0800 024 1976 or contact us via our online enquiry form.

Find out how Nelsons can help you. Contact our friendly team for a guaranteed fast response.

For advice and support 0800 024 1976
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