Capital Gains Tax review and planning.

The rate of Capital Gains Tax has increased in the last twelve months to a maximum of 28%. This is still preferable to the highest rate of Income Tax of 50%. It is important therefore that where gains are made, HMRC cannot claim that the gains are subject to Income Tax and not Capital Gains Tax. We will review your status and advise accordingly. We will also advise on the rate applicable to any gain whether made or anticipated. In the latter situation, we will ensure that the appropriate reliefs are reviewed and made available to you.

Timing can play a great part in Capital Gains Tax planning and we will discuss this with you to ensure a timely disposal of assets is made, where possible.

Business owners can generally take advantage of the lowest rate of Capital Gains Tax of 10%, through the application of Entrepreneurs Relief. We will advise you on the application of this and ensure that you take appropriate steps to ensure, where possible that this rate applies to you.