Capital Gains Tax
Maximising Gains & Minimising Taxes
How do we help in Capital gains tax?
Taxaccolega is your partner when it comes to Capital Gains Tax (CGT). CGT is a complex area, and our team of seasoned experts is dedicated to simplifying it for you. We ensure you navigate this complex tax area with confidence, leveraging our deep understanding of the nuances involved.
Our services encompass personalised CGT planning, meticulous return preparation, and expert guidance to optimise your financial position. With us, you’ll not only meet CGT compliance requirements but also explore legal avenues to minimise your tax liabilities. Let us take the complexities out of CGT management, allowing you to focus on your financial success and investments.
The Benefits Of Hiring An Accountant
We offer unparalleled tax expertise at Taxaccolega. Our team’s expertise ensures tax compliance anda efficiency. Let us guide you through the complexity, providing peace of mind while maximising your business’s savings.
FAQs
Capital Gains Tax (CGT) is a tax on the profit (gain) made when you sell or dispose of an asset that has increased in value. It is the gain that is taxed, not the amount of money you receive.
CGT must be paid by individuals, trustees, and personal representatives of the deceased. Instead of CGT, corporations pay corporation tax on their capital gains.
Property (other than your primary residence), shares, personal belongings valued at £6,000 or more (excluding your vehicle), and business assets are all considered assets subject to CGT.
The current CGT rates for individuals are 10% for taxpayers with basic rates and 20% for those with higher and additional rates. On the other hand, basic rate taxpayers pay 18% tax on gains on residential property and carried interest, while higher and additional rate taxpayers pay 28%.
Yes, several exemptions and reliefs can reduce your CGT liability. These include the Annual Exempt Amount (£12,300 for the 2023/24 tax year), Private Residence Relief, Entrepreneurs’ Relief, and Gift Hold-Over Relief.
Taxaccolega provides expert advice on CGT planning, helping you to structure your transactions tax-efficiently, utilise available reliefs and exemptions, and manage your CGT liabilities effectively.
Our group is well-represented and offers strong assistance during HMRC CGT audits. We make sure all required paperwork is in order and communicate with HMRC on your behalf to guarantee a seamless audit.
Our Recent Google Reviews
Our Clients & Associated Partners
