London Office
Tavistock House South,
Tavistock Square,
London, WC1H 9LG
t: 020 7388 2641
f: 020 7387 8969
e: th@rayneressex.com
St Albans Office
Faulkner House,
Victoria Street,
St Albans, Herts,
AL1 3SE
t: 01727 833222
f: 01727 864752
e: fh@rayneressex.com
Capital Gains Tax
Capital Gains Tax has seen a number of changes over the last couple of years with a regime now where the calculation of the gain is different for corporate entities and individuals. Furthermore, the individual’s gain depends on whether the asset disposed of qualifies as a business asset or a non-business asset. This has a significant influence in the amount of gain chargeable especially if held for only a few years.What of the consequences of an asset partly being a business asset during ownership and partly being non-business, or where the asset moves from one category to the other. There are now many pitfalls within this area of taxation and the unwary can quite easily create unnecessary tax liabilities by not being fully aware of the rules.
We can offer a comprehensive service in assessing the effects of a capital disposal prior to that disposal taking place and advise of any potential pitfalls. Additionally, this tax interacts with many other reliefs and we can advise on whether any claims to mitigate or hold over the gain are possible, and the ultimate consequences of such claims being made.
For further information on how we can assist you please e-mail either our London based tax partner Clive Goodkind cg@rayneressex.com or our St Albans based tax partner Clive Walters caw@rayneressex.com or call Clive Goodkind at our London office on 020 7388 2641 or call Clive Walters at our St Albans office on 01727 833222.