Capital Gains Tax (CGT) arises when a tax payer disposes of an asset. As a transaction tax it crops up periodically. It can apply to many types of asset and arises on sales and gifts.
The system of reliefs, elections and time limits is complex. We advise taking early advice before carrying out a transaction.
Heslops Chartered Accountants provide assistance in the following aspects:
- Estimating potential liabilities.
- Advising on timing of transactions.
- Advising on reliefs and allowances and making claims.
- Making elections and meeting time limits.
- Filing accurate calculations and returns on time.