Capital gains tax can be complicated, with so many exemptions and reliefs available. For example, PPR, Business Asset Disposal Relief (Entrepreneurs’ Relief), Rollover relief, Investor relief, Incorporation relief etc. In order to qualify for the relief, it must satisfy all the conditions. WeAccountants can help and advise you, how to satisfy those conditions.
Our specialist tax team deals with all aspects of capital gains tax, including:
Business property and assets
Shares and investments
HMRC enquiries and investigations
Non-resident capital gain tax (NRCGT)
We also advice on IH Tax, avoid paying tax again on wealth you’ve accumulated and been taxed on already! Wealth succession planning enables a smooth transition to the next generation as well as minimising tax liabilities to mitigate inheritance tax on family homes, family businesses and investment portfolios.
Inheritance tax is very serious tax, if you do not make plan well before. In the event of your death, your beneficiaries could pay inheritance tax at 40% on the value of your estate above nil rate band £325,000. Additional £175,000 residential nil rate band if transfer to direct descendant. (RNRB will be taper if estate value more than £2m, this taper rate is £1 for every £2 over £2m). Also some other exemption and relief available i.e Annual exemption, gift, gift to charity, taper relief, BPR & APR relief.
Example: For an estate of £1 million, the tax figure could become £270,000 !! Our specialist tax team are able to give advice on IHT.