Capital Gains Tax

We evaluate your exposure to Capital Gains Tax in the UK, will also give you the opportunity to assess the potential impact on your cash flow, so that you can prepare yourself accordingly.

We advise on a wide range of capital gains tax issues. Some of the common scenarios we deal with for clients include:

• Assisting property investors looking to sell buy-to-let property;
• Transferring properties to your children, or other family members in a tax efficient way;
• Restructuring businesses;
• Advising on Shares and Capital Gains Tax;
• Capital Gains Tax advice for trusts;
• Capital Gains Tax advice for non-UK residents;
• Capital Gains Tax advice on overseas properties;
• Offsetting Capital Gains Tax losses.

We help clients in the following ways:

• Calculating the potential CG Tax liability on a disposal.
• Advising on Business Asset Disposal Relief (formally Entrepreneurs’ Relief), by helping you set up tax-efficient business structures from the start, or by helping with restructuring in advance of a sale.
• Advising on deferral reliefs such as rollover relief and holdover relief.
• Ensuring you claim all available reliefs and exemptions such as principal private residence relief, lettings relief, gift relief, annual exemption and chattel exemption.
• Advising on the transfer of assets between spouses, for example, if your spouse has unused annual exemptions or capital losses.
• Advise on how the timing of a sale will impact on the payment date and whether the disposal can be spread over more than one tax year, to maximize available reliefs and exemptions.

(CGT) maybe charged on the profit or gain made when selling, gifting, transferring, exchanging, or disposing of an asset. The asset could be a personal asset such as your home. The asset could be a business asset such as a shop or piece of equipment. The asset could also be shared in a company or partnership.

The reliefs and allowances that can be claimed change regularly and can vary depending on your situation. It is essential to get professional advice before disposing of an asset to minimize, defer or even eliminate the tax liability. Our goal is to maximize the available relief for you in the UK.

What is the UK CGT rate?

For the 2022/2023 tax year, these tax rates are 10% (18% for residential property) for your entire capital gain if your overall annual income is below £50,270. 20% (28% for residential property) for your entire CG if your overall annual income is above the £50,270 threshold.

Capital Gains Tax allowance

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