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Tax-free childcare roll out
The implementation of Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, is being rolled out ...Read more >
7 Feb 2018
Updated list of professional subscriptions
Employees are allowed to claim tax relief on their annual professional fees or subscriptions to some HMRC approved professional organisation...Read more >
2 Feb 2018
Scotland revise income tax bands
Derek Mackay, Scottish Finance Secretary, has made a change to the proposed Scottish income tax bands for 2018/19 which he announced in Dece...Read more >
1 Feb 2018
End of year tax planning video
As the end of the financial year approaches now is the time to start considering measures you could take to better structure your business o...Read more >
31 Jan 2018
Solihull Chamber News Column - 24th August 2017
The Chamber’s Quarterly Business Report (QBR) always highlights some interesting information on what is happening in the business worl...Read more >
24 Aug 2017
Solihull Chamber News Column - 10th august 2017
As Brexit becomes a reality, the Chamber of Commerce’s International Hub is stepping up its drive to encourage and help businesses to ...Read more >
10 Aug 2017
Contact Prime Today
For confidential advice regarding Capital Gains Tax, please contact us for a free initial meeting.Please Email Us >
Capital Gains Tax is a tax on the profit you make when you sell an asset. Careful planning of capital asset disposals to utilise your annual personal CGT allowance is essential to minimise your capital gains tax liability. With a personal allowance of £10,600 per tax year, any chargeable gains in excess of this are imposed at the following Capital Gains Tax rates:
- 18 per cent and 28 per cent for individuals (the tax rate you use depends on the total amount of your taxable income and gains)
- 28 per cent for trustees or personal representatives
- 10 per cent for gains qualifying for Entrepreneurs' Relief
Our experts at Prime can advise on the best solutions to manage your asset disposal. From offsetting to investing, transfers to timings, contact Prime for a free initial consultation to discuss your Capital Gains requirements.
CGT on Separation
It is also important to note that you may be subject to paying CGT if you are separating from your partner or spouse. This will depend on whether any capital transfers takes place during the tax year of separation, after separation or after your divorce.
Our fact sheet, CGT on Separation, will provide additional information but for completely confidential CGT advice concerning your own circumstances, please contact us.
Call Prime Today - we're here to help
For confidential advice regarding Capital Gains Tax, please contact our tax team today.
Coventry - 024 7651 8555 or Solihull - 0121 711 2468