Capital Gains Tax applies if you sell an asset for more than you paid for it. While these gains may be taxable, many exemptions apply and the rules can be complex, particularly where property is involved. Because of the complexity of the rules, people are often unsure as to what they have to do.
We can help by sitting down with you over a cup of tea or coffee and getting details of the transactions or likely transactions. We can then establish whether the transaction is regarded as a capital gain and, if it is taxable, how much the gain is and how much the Capital Gains Tax is likely to be. We can also establish whether any gain has to be reported to HM Revenue & Customs, how best to do this and assist you with the process.