Gains made on the disposal of assets are subject to capital gains tax (CGT). The CGT regime has changed recently and the level of CGT you pay is determined by the level of income tax you pay and the nature of the asset you are selling.
From 23 June 2010, a higher rate taxpayer is liable to 28% tax on the disposal of non business assets whilst a basic rate taxpayer will pay 18%. Business assets will continue to enjoy a reduced rate of CGT through Entrepreneurs’ relief.
Through a mixture of knowing what deductions can be made in computing the taxable gain, plus reliefs and exemptions, more complex structures, obtaining favourable valuations and bespoke considerations, Sterling Partners can make a substantial impact on the actual CGT payable, whether the disposal has been made or is being considered, and help negotiate with HMRC in order to achieve the most favourable valuations.
