PROVEN SOLUTIONS THAT CAN MITIGATE AND ELIMINATE CAPITAL GAINS TAX
Over the last decade, the rules for capital gains tax have changed significantly. It is therefore essential for individuals and businesses to seek professional advice before any disposal of capital assets takes place.
At SRG, our highly-qualified advisers help clients to negotiate the complexities of capital gains tax legislation and to understand the reliefs and exemptions available to UK taxpayers.
Capital assets span property, investments and the sale or part-sale of a business. Our tax planners have the expertise to help minimise capital gains tax liabilities wherever possible.
Our clients depend on us to prepare accurate capital gains tax calculations to establish any liability. As part of our capital gains tax planning service, we may also undertake the following:
- Advice on available capital gains tax reliefs
Your dedicated SRG adviser will investigate whether you are eligible for rollover relief, reinvestment relief, principal private residence relief or gift relief.
- Advice on entrepreneurs’ relief
Entrepreneurs’ relief allows individuals to pay tax at just 10% on all gains when you dispose of all or some of your business. Sole traders and business partners are eligible for this relief, but you must have owned your business for at least 12 months before the date you sell it.
- Capital gains tax exemptions
Your SRG adviser will ensure that, where applicable, your capital gains tax exemptions are applied. This ensures your first £11,700 annual gains are tax-free (£5,850 for trusts).
- Advice on inter-spousal asset transfers
We advise clients planning to transfer assets to a spouse or civil partner. Under inheritance tax rules this is tax-free. Capital gains tax rules state that this should be conducted on a no gain-no loss basis.
- Advice on the timing of asset disposals
Your SRG adviser will sit down to understand your unique personal and financial circumstances before recommending the best time to dispose of your assets in the most tax-efficient manner.