Capital Gains Tax

How can Avery Clifton assist you with Capital Gains Tax?

• We will work with you to ascertain the facts of each case from a capital gains tax point of view. This involves a detailed review of the use of the asset during the it’s ownership
• We will then provide a preliminary tax estimate based on the facts you have provided
• We will also review other assets you are disposing in the near future and whether the timing of the disposal should be bought forward
• We then use our tax experience to ascertain which allowances, reliefs and exemptions can assist you to reduce your tax bill. We look at the availability of such relief’s to see whether the criteria is met
• For businesses, amongst other reliefs, we also look at taper relief to see whether we could reduce the rate of tax from 40% to 10%
• For individuals, some of the reliefs are: entrepreneurs’ relief, reinvestment relief and principal private relief, for which the rules have changed
• We always advise you should plan and seek professional advice in advance of disposing an asset
• We can assist in planning how capital gains tax payments can be deferred, creating a cash flow advantage for you
• Planning before agreeing a sale is the best way forward to ensure you are eligible to all claims and reliefs that may be available to you.