Capital Gains Tax Planning

Capital Gains Tax (CGT) liabilities can arise when an individual disposes of an asset which has increased in value since it was acquired. It does not matter if the asset was sold or gifted, a CGT liability may still arise.

Examples of assets which can give rise to chargeable gains include, but are not limited to:

• Commercial and residential property, including private homes where they are second homes, or the main home where it has not always been occupied as such.
• Investments including shares in private companies and share portfolios.
• Personal assets, for example jewellery or artwork.

We can help you in the following ways:

• Provide advice on how to report and pay CGT liabilities, as well as advising you on mitigating or delaying CGT liabilities as far as possible.
• Advice with regard to the complex area of residential property disposals and the new online filing and payment requirement.
• Consideration of the numerous tax reliefs and deferral mechanisms available to mitigate or delay CGT liabilities.
• Additionally, we can help you to plan tax efficiently for future disposals of assets. Sometimes small actions can have a significant impact on future tax liabilities; proactive planning is key.

With a large portfolio of individual clients, we advise our clients on capital gains tax on a regular basis. We pride ourselves on providing bespoke and proactive advice to each client’s individual circumstances.

If you have disposed of an asset and would like advice on managing your CGT liability, or would like tax planning advice regarding future capital gains tax liabilities, please get in touch.