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Capital Gains Tax

Capital Gains Tax is paid when you dispose of certain assets, and is payable on net gains made. Companies also have to pay Corporation Tax on chargeable gains calculated according to modified Capital Gains Tax rules.

There are many aspects to this complicated subject. For example, losses brought forward from previous tax years can offset gains; and there is a wide range of exemptions and other reliefs.

We would be happy to evaluate your CGT liability and show you ways to reduce your or your company's liability to this tax.

Personal CGT planning case study

Below is a case study detailing a planning route for an individual disposing of an asset (to which Entrepeneur's Relief does not apply) with a value of £2million.

No Planning
 With Planning
 Saving
Gain £2,000,000 £2,000,000
Tax (18%)
 (£360,000)
Fee (6%& £10,000)
 (£130,000)
Total £1,640,000 £1,870,000 £230,000

Corporate CGT Planning case study


The case study below outlines an company disposing of chargeable asset crystallising a captial gain on the sale of £2million. The company would like to shelter the capital gains tax liability that would arise.  By undertaking pre-disposal planning the company is able to make the following saving:

No Planning
 With Planning
 Saving
Gain £2,000,000 £2,000,000
Tax (28%) (£560,000) -
Fee (8% plus £10,000)
 (£170,000)
Total £1,440,000 £1,830,000 £390,000

For more information about our CGT mitigation and planning services, please contact us

 

Financial Adviser Belfast

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financial advisor belfast

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