Capital gains tax is levied when you sell or give away an asset that has increased in value. Many established forms of tax relief, such as transferring assets into trusts, are not effective when minimising the impact of tax on capital gains, meaning that it is best to plan ahead and structure the ownership of assets more carefully.
At The Fish Partnership we have a dedicated tax team who can advise you on all aspects of capital gains tax planning and compliance, to mitigate or avoid any tax liability, including:
- Quoted and unquoted share disposals
- Business disposals
- Sales and gifts of property
- The availability of reliefs on gifts to individuals and trusts
- The availability of entrepreneurs’ relief in relation to business assets
- Establishing in-year losses and losses carried forward for future use
- The availability of PPR or main residence relief and how to maximise this relief to cover more than one property
- Disposals made by trustees and personal representatives
- Assessing the tax for transactions already done, and negotiating with HM Revenue & Customs to reach agreement on liabilities
Tax should not be an afterthought as it often affects the success or failure of a business venture. With advice and guidance from the experienced and reliable tax team at The Fish Partnership, you can rest assured that the impact of taxation on you and your business will be reduced as much as possible.
For more information regarding capital gains tax, please refer to our tax tables.