Capital Gains Tax Advice
We can advise on all aspects of Capital Gains Tax for individuals, whether it is a question of correctly calculating the tax that is due, or arranging your affairs to minimise it. We have experience in dealing with business owners considering retirement, buy-to-let investors making changes to their portfolio of properties, owners of second homes and expatriates who have retained a property in the UK.
We are able to help you fully understand the conditions for Main Residence Relief and Lettings Relief on property, and can advise on the use of the various reliefs available, so that you can delay your liability for Capital Gains Tax as long as possible and make full use of the allowances and expenses that can be claimed. We can act for you in agreeing with HM Revenue & Customs the amount of tax that is payable.
By consulting us in good time, you can ensure that you are advised about your rights of election, choosing which of multiple residences will benefit from Main Residence Relief and ensuring that you manage the allocation of rental income in keeping with your Income Tax objectives.
For non-resident individuals, in particular, we can advise on the Capital Gains Tax regime that has applied to gains on UK Properties disposed of by them since April 2015. We can also advise on the interaction of this tax with the Annual Tax on Enveloped Dwellings (“ATED”)