Capital Gains Tax

Capital gains tax may also be due when you receive compensation for an asset that has been destroyed such insurance payments. Assets include shares or properties however, some assets are not liable to CGT.

Assets such as property rented out, a second home, business premises or land are liable to CGT when you dispose of them. There is an annual tax free allowance known as annual exemption.

How this may affect you

• You may need advice on how best to dispose your asset so that you pay the least possible CGT
• You may need advice on disposal of business assets
• You may need advice on availability of relief applicable to your situation

How we can help

• We will assist you with tax planning to ensure that you pay least tax
• We will ensure make efficient use of your tax planning opportunities by claiming all the allowances available.

Taxation