Capital Gains Tax Advice
is a modern day necessity as it’s a tax charge payable on an increase
in value on the processions we own. These possessions could range from
shares to antiques, second homes etc. The tax is payable when you sale
or give them away.
Year on year the capital gains tax allowances and rates vary therefore it is important to seek Capital Gains Tax Advice from a professional Tax Accountant. - Chartered Tax Advisors
The
difference in tax rates between UK income tax at 50% and capital gains
tax at 18% is unsustainable. Sooner or later the government will seek to
close the gap but if only itwere entirely that simple. UK Chancellors
past and present have for many years been trying to simplify the capital
gains tax system only to end up making it more complex.
In capital gains tax planning
it is vital to take all taxes into account, not just the one you are
trying to avoid! There is no point doing one thing to save inheritance
tax if at the same time by taking this action you inadvertently give
yourself a capital gains tax liability. Capital gains tax rate is much lower than income tax rate but with careful capital gains tax advice
and planning, one can further reduce the CGT bill. There are several
ways by which capital gains tax may be reduced, legally of course. This
requires good advanced capital gains tax advice and planning, rather
than reacting to a tax event.