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Trusts Registration Service
HMRC have launched a new Trusts Registration Service (TRS), so that trustees can register their trust online and provide information on the ...Read more >
9 Oct 2017
HMRC offer tax support to growing businesses
HMRC have announced the introduction of a new service to directly help mid-sized businesses as they expand and grow. This is to be known as ...Read more >
5 Oct 2017
Making Tax Digital for VAT
The government have issued information on how Making Tax Digital for Business (MTDfB) is expected to work for VAT once the rules are introdu...Read more >
2 Oct 2017
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
An update on Making Tax Digital
The Government have decided that the introduction of Making Tax Digital (MTD) will be delayed for businesses. We have summarised the la...Read more >
31 Jul 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