When considering your liability to capital gains tax, we will always make sure you can get the most out of the available allowances, reliefs, and deductions.
We are highly experienced in providing capital gains tax advice to buy-to-let landlords or property owners of second homes, together with non-UK resident landlords affected by the non-resident CGT regime.
We can provide advice on your capital gains tax liability, the applicable rates, and eligibility for relief through allowances and exemptions. We can advise you on the capital gains tax implications before a transaction occurs to ensure no planning opportunities are missed.
Please contact us if you cannot find an answer to your question.
Capital Gains Tax (CGT) is payable on the gain realised on any ‘chargeable asset’ disposal. This includes personal possessions worth more than £6,000 (cars not included), business assets, property that is not your main home (exemptions apply) and shares held outside an ISA. Gifts to a spouse, civil partner or charity are typically exempt from capital gains tax.
You only have to pay capital gains tax on your total gains above an annual tax-free allowance. The current capital gains tax rates are 18% or 28% for basic and higher/additional rate taxpayers.
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