Capital Gains Tax
Whether you have inherited assets, bought a second home or developed an extensive investment portfolio, you will need to consider the Capital Gains Tax (CGT) consequences of a disposal. Professional advice should always be sought before transferring or selling an asset as CGT liabilities can be deferred, mitigated or even prevented with the right planning. The experienced and professional team at Jeffcote Donnison can guide you through your sometimes complex obligations, provide a personal planning strategy, and ensure that complete compliance with all your legal obligations is ensured.
Most people are aware that gains made on the sale of their own home should be exempt from CGT, but where more than one property is held or occupied, even if one is rented, complications can arise. We can help you identify how to ensure the receipt of the maximum relief.
There are many other issues that will affect the relief that may apply. In addition there will also be a number of tax implications and charges that may be applicable.
Our CGT experts can advise you on:
- Retiring or selling your business – securing benefits from entrepreneur’s relief
- Reinvestment of proceeds already gained into qualifying investments
- Income tax deduction on overlooked relief’s
- The types of relief’s available to you
- Tax implications for Non-residents outside the UK for less than five years
- Tax advantages of offshore trusts
- Gains that can be charged for UK Domiciles or UK resident beneficiaries
- Identification of any risks and strategies to remedy this