Capital Gains Tax
Capital Gains Tax or CGT, a tax charge applied to the gain from the sale of something owned. It’s calculated from the gain made, the increase in value of the sale price compared to the purchase price for an asset held for more than one year.
Many common assets can be subject to Capital Gains Tax when disposed of, such as stocks, investment funds, bonds, properties, precious metals, and etc. Capital gains on these assets are currently taxed at different rates than those of income tax. This is because purchasing such assets is seen as taking a risk, either entrepreneurial or investment, so the additional burden of risk carries a greater potential reward.
The legislation for CGT is a very complex area. There are many reliefs and exemptions which may lead to significant tax savings. At CapitalUK Tax, we will prepare your CGT computations, claim any reliefs that you may be entitled to, and calculate any liability that may be due.
Suppose you are considering selling a personal asset or all or part of your business. In that case, we can advise you of the available tax planning opportunities before you make your disposal to mitigate or reduce potential tax liabilities.
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