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Capital gains tax advice

Are you looking for capital gains tax advice? We are experts in calculating the capital gains tax on property, share and business sales, identifying available CGT reliefs and expenditure which can reduce your tax liability.

If you have recently sold assets, contact us now to discuss your capital gains tax position.

If you are considering selling residential property which you have lived in, you may be entitled to claim capital gains tax main residence relief. The rules surrounding this relief are complex and often misunderstood, so it is vital to speak to an expert to ensure that you pay the right amount of tax. If you have also let the property at some stage, CGT lettings relief may also be available to reduce the taxable capital gain further. HM Revenue & Customs have recently signalled that the rules in this area are likely to change in April 2020, so contact us today to check how you will be affected by the new rules.

Every individual in business using a company is likely to have capital gains tax on shares when they come to retire, either by selling the shares or transferring them to the next generation. Sole traders and partners will have similar issues with the disposal or transfer of their business and assets. We can help with your retirement planning, whether it is ensuring you qualify for capital gains tax Entrepreneurs' Relief on a sale or making the appropriate CGT holdover relief claim on a transfer of the shares or assets to your children.

The correct planning to minimise any capital gains tax liability is key to ensuring that you can keep as much of the proceeds from selling your business as possible for your well-earned retirement. Many reliefs have a minimum qualifying period, so even if you are not ready to retire just yet, contact us to make sure that you know what you must (and must not) do to keep within the capital gains tax relief rules.

It is often during a difficult time that capital gains tax becomes relevant, whether you are selling a property due to divorce or have inherited assets following the death of a loved one. We understand that tax can seem a low priority at this time, yet simple steps can sometimes make a big difference to the tax payable. Contact us for clear and practical capital gains tax advice which can make a real difference to the tax you have to pay.

We can also provide capital gains tax expert advice in more specialist situations. For example, if you are living overseas looking to sell UK assets, you may be subject to capital gains tax on property in the UK. There are special rules to calculate the tax due and we can work closely with valuers to ensure that your capital gains tax is kept to a minimum. Similarly, there are complex rules if assets are transferred into or out of a trust, with capital gains tax holdover relief and other reliefs being available in some circumstances. Contact us to obtain capital gains tax specialist advice.

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