Capital Gains Tax (CGT)

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Capital Gains Tax is a tax on any gain (profit) that you make as a result of selling or transferring an asset, for example the sale of shares or of a second home. 

You will only have to pay tax on the gain you make above your tax-free allowance, which currently stands at £12,300 per annum. You may also be able to reduce your tax liability by claiming reliefs. 

You will pay CGT on:

  • Most personal assets worth £6,000 or more, with the exception of cars
  • Shares that are not in an ISA or PEP
  • Business assets 
  • Property that is not your main home

As mentioned above, depending on the type of asset, you might be able to reduce your tax liability by claiming a relief. 

If the assets you dispose of were jointly owned with someone else, you will only have to pay CGT on your share of the gain. 

What makes us different 

We will work with you closely to optimise your Capital Gains return through the use of relevant reliefs and exemptions. Tax planning is the key to minimising CGT and that’s why we encourage you to discuss your plans with us so that we are able to help you structure your assets in such way as to keep your CGT to a minimum once you decide to sell them. 

 

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