Capital Gains Tax Advisors

Your capital gains tax liability Taxes are one of the realities of the businessperson’s life. When you raise that final sales invoice and realise the proceeds from the sale of your business, you should be completing one of the last steps in a strategy aimed at maximising the net return by minimising the capital gains tax (CGT) on sale. CGT basics: As a basic principle, CGT is charged at 18% on the difference between what you paid for an asset and what you receive when you sell it, less your annual CGT exemption if this has not been set against other gains. There are several other provisions, which may also need to be factored into the calculation of any CGT liability. CGT reliefs may be very valuable: It is possible that reliefs can reduce an 18% CGT bill to zero. If you want to maximise your net proceeds it is vital that you consult with us about the timing of a sale, and the CGT reliefs and exemptions which you might be entitled to claim.

For more information on Capital Gains Tax Advisors talk to Hackett Griffey LLP