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Capital Gains tax & VAT

Capital Gains tax & VAT

Capital Gains Tax

Capital gains tax is payable on capital disposals (Assets). Whilst the calculation of capital gains tax for individuals has been simplified in recent years, the availability and choice of relief and mitigation techniques has not.

It is important to seek professional advice as early as possible when it comes to capital gains tax. We advise clients to talk to us even before disposals are undertaken. This approach allows clients to benefit from as much tax planning as possible to save money. In many cases the interaction with inheritance tax means that careful planning is essential.

We have specialist capital gains tax advisors who will offer advice on a wide range of capital gains tax issues including second homes and principal private residence relief, letting relief, entrepreneurs’ relief, holdover relief to name but a few.

“Do you know where you’re going to?” Diana Ross

When do we start paying tax? ..From birth till death.

VAT

We will assist you with electronic VAT registration when you become liable or when you want voluntary VAT registration. We deal with intrastate and related issues.

There are a number of VAT schemes available and we constantly review our clients’ businesses to ensure they are operating the scheme most beneficial to them. We deal with shops, partial exemptions and zero rated businesses.

“Excellence is to do a common thing in an uncommon way” Booker T. Washington

We have access to VAT specialists to advice on VAT relating to overseas trading, property and Charities.

Inheritance Tax

“Time is a versatile performer. It flies, marches on, heals all wounds, runs out, and will tell” Franklin P. Jones

The recent changes to the nil rate band for married couples was a welcome update to inheritance tax law. However, inheritance tax continues to be an extremely complex matter and professional advice is essential. Early planning is important.

Our inheritance Tax specialists will advise on all matters relevant to estate planning including business property and agricultural property relief, discretionary trusts and other trust and estate issues.

“And the trouble is, if you don’t risk anything, you risk even more” Erica Long

The close interaction of inheritance tax with capital gains tax means that a well planned strategy is required and our specialist knowledge will become invaluable.

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