A tax chargeable on the profit you make when disposing of something that you own.
Capital Gains Tax (CGT) typically affects individuals and businesses who are looking to dispose of something that could be considered an ‘appreciating asset’.
Where this is the case, you should be aware of the rules relating to CGT in the UK and how, if at all, they impact upon your disposal; particularly as there are often large sums of money involved.
Recent changes to legislation have seen proactive planning become even more important, as the timing of the transaction could make all the difference to the resulting liability.
It is never too soon to consider Capital Gains Tax planning, particularly in respect of the sale of a business; action taken years earlier could alter the outcome of a transaction greatly.
Our experts are available to help you plan and to ensure that you take full advantage of the reliefs available to you and minimise the tax you pay.
For more information about our audit, accountancy, taxation and business advisory services in Biggleswade, Cambridgeshire, Hertfordshire, Huntingdon, Letchworth, Peterborough and Stevenage and beyond, please contact us.