Capital gains tax is due on the profits made from the sale of capital assets. For businesses, this usually arises when a business is sold or partly sold and will include for instance the disposal of goodwill, plus other assets that are sold in excess of original cost.
We can advise on these matters including the best timing for disposal, as forward planning is often the key to reducing CGT liabilities
Details of gains have to be declared in a personal tax return. The liability calculations are usually quite complicated as there are often numerous rules or reliefs involved. We will advise the CGT tax liability and the date for settlement.
We will ensure that the CGT computation is properly declared in your personal tax return.
