Subscribe to our e-news
Register now to receive regular e-news bulletins designed for business owners and individuals.
Please enter your email address below:
Advisory fuel rates for company cars
New company car advisory fuel rates have been published which took effect from 1 June 2017. The guidance states: ‘You can use the...Read more >
9 Jun 2017
Tax-Free Childcare and childcare options
Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare launched at the end of April and is being r...Read more >
7 Jun 2017
VAT fuel scale charges
HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period s...Read more >
12 May 2017
Second Hand Cars for Business? A REAL Alternative!
I’m Chris, the founder of a Solihull based business with an International customer base. In the last 12 months, I’ve seen my bus...Read more >
26 Jun 2017
Check of employer records
HMRC have been tasked to raise additional revenue. This will be achieved through a variety of methods, including increased employer complian...Read more >
30 May 2017
Solihull Chamber survey surprises
Last week Kevin Johns, Prime’s Managing Director and President of the Solihull Chamber, hosted the Solihull Chamber Breakfast. The eve...Read more >
17 May 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
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