Capital Gains Tax
Capital Gains Tax (CGT) is payable when assets are ‘disposed of’ at a profit’.
Importantly, current rates of CGT range between 10% and 28%, whereas Income Tax (IT) rates can be up to 60%. It may therefore be worthwhile considering if your affairs can be arranged to ensure that you receive capital profits (subject to CGT) rather than income profits (subject to IT).
But our advice does not end there. Once it is established that the profits are capital in nature there are many complicated rules which impact on the amounts ultimately chargeable and payable. The reliefs and exemptions applicable to this tax are numerous and easily overlooked.
Our tax advisers include some of the most highly qualified and experienced professionals in the industry and are therefore ideally placed to identify any opportunities to minimise your CGT liability.
Please call us today to find out how we can help with your tax affairs
The following are some examples, which illustrate just a few of the many ways in which Capital Gains Tax can be saved if you get the right advice at the appropriate time, but remember…timely advice is essential.
- Date changes for ‘Making Tax Digital’
- What now for ISA savings?
- The state shovels in your coffers
- VAT on property – The Capital Goods Scheme
- Property developers – Extracting profits as capital
- Buy to let investors – don’t pay too much stamp duty land tax!
- Tax free reimbursement of directors and employees expense claims
- Should I save for retirement using an ISA or a pension fund?
- The impact of VAT and Income Tax on a Landlord’s profits
- Should you incorporate your Residential Property Letting Business?