Call now on +44 (0)203 151 0650

Capital Gains Tax Planning

Want To See How We Can Help You?

CAPITAL GAINS TAX PLANNING

The key benefits of our capital gains tax planning are as follows:

Provides complete mitigation of your expected capital gains tax liability

Tried and tested planning

Very quick implementation process - it can be set up within a matter of days

Available for any assets, including buy-to-let properties and property development projects.

If you would like to arrange a free confidential telephone call to see if you qualify for our capital gains tax planning, please get in touch:

  • This field is for validation purposes and should be left unchanged.

Individuals who are subject to capital gains tax face rates of

10% (basic rate taxpayers) and 20% (higher rate taxpayers) on the taxable profits arising upon the disposal of a chargeable asset.

However, if you sell a residential property (other than your main home which should generally be exempted by virtue of principal private residence relief (otherwise known as PPR)), then the capital gains tax rates are higher at 18% (basic rate taxpayers) and 28% (higher rate taxpayers).

Nonetheless, irrespective of the applicable capital gains tax rate, having to pay capital gains tax can be a bitter pill to swallow.

So is there anything you can do to mitigate your capital gains tax cost?

Welcome to the solution offered by Newshams Tax Advisers in Covent Garden.

The answer is yes and there are a number of legal and perfectly acceptable methods on how to legitimately avoid capital gains tax. Like most forms of relief and capital gains tax mitigation techniques, there are a number of conditions that have to be met and a key factor is that you cannot have already agreed to sell the asset.

Occasionally we receive enquiries from individuals who are about to complete the sale of their asset and, at the last minute, check to see if there is any capital gains tax planning that can be undertaken. Sadly, at this stage it is too late.

Capital gains tax works off the transfer of "beneficial interest" and not when the legal title is transferred if this occurs on a different date.

For example, an individual may enter into an agreement to sell an asset and exchange occurs with completion some few weeks later. Capital gains tax will (in the absence of any conditions) work off the date of the contract (the exchange date) and that's the trigger point and date of disposal for capital gains tax purposes. The legal title (such as an instrument of title to real estate or shares which reflects the legal ownership as written up at the Land Registry or on the Shareholders' Register) may happen at a later date, but this date is irrelevant for capital gains tax purposes. So you need to call Newshams Tax Advisers in Covent Garden prior to exchange and ideally a lot earlier than that!

The key benefits of our capital gains tax planning are as follows:

Provides complete mitigation of your expected capital gains tax liability

Tried and tested planning
Very quick implementation process - it can be set up within a matter of days
Available for any assets, including buy-to-let properties and property development projects

THE NEXT STEPS

If you would like to arrange a free confidential telephone call to see if you qualify for our capital gains tax planning, please get in touch with Newshams Tax Advisers in Covent Garden on +44 (0) 20 3151 0650

 

We look forward to helping you minimise your capital gains tax costs.