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If you own anything of value and decide to sell it, you could be liable to Capital gains tax (CGT).
CGT is payable when an individual, trust or company sells, transfers or gifts property (tangible or intangible) to another entity. As a basic principle, CGT is charged on the difference between what you paid for an asset and what you receive when you sell it, less your annual CGT exemption if this has not been set against other gains.
However, it is possible that careful planning can reduce your CGT bill to zero.
We can help you in the complex area of capital gains tax planning. Our experienced specialists will guide you through the reliefs and options available to reduce or even eliminate your tax bill.
Contact us today.