Capital Gains Tax Advice - MHK Accountants
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Capital Gains Tax Advice

Capital gains tax is a tax on the increase in value of an asset. It can arise on a gift or a disposal of a chargeable asset including land and buildings, shares and unit trusts, business assets, expensive jewellery, paintings and antiques.

Capital gains tax liabilities can be mitigated through tax planning activities such as:

 

  • Use of the annual capital gains tax exemption. (For jointly owned assets, both spouses/civil partners will each have the annual exemption available)
  • Transfers between husband and wife/civil partners
  • Private principal residence relief, as in general there is no capital gains tax on the sale of your main home provided the qualifying conditions are met
  • Letting relief
  • Entrepreneurs’ relief on business assets
  • Holdover relief
  • Rollover relief
  • Enterprise Investment Scheme (EIS) deferral relief
  • Trust fund management

Successful tax planning is helped by working with one of our experienced tax accountants. It’s one of the best ways you can mitigate your capital gains tax liability.  Our capital gains tax service helps you calculate your exposure to this tax, providing you with options for restructuring your affairs accordingly.

 

Many of our clients are surprised to learn that not all assets are liable to Capital Gains Tax. Helping you negotiate your way through the range of exemptions and reliefs that you can take advantage of is one of our key services.