Capital Gain Tax

For Resident and non-resident Individuals / Trustees

Capital Gains Tax (CGT) is a tax on the profit made when selling, gifting, or otherwise disposing of an asset that has increased in value. CGT is also applicable in cases where an asset is lost or destroyed, with tax assessed on the gain from its original value to its disposal value.

Increased HMRC Scrutiny:

HMRC is intensifying its scrutiny of Capital Gains Tax through advanced systems like “Connect All” and working closely with estate agents. While UK resident individuals and trusts are under close watch, there is a particular focus on non-residents who own property in the UK. Overseas residents generating income from UK properties are also subject to rigorous investigations.

As of 5 April 2015, non-residents must pay CGT on residential properties in the UK, making tax-efficient planning crucial to avoid unnecessary liabilities.

How Groopacc Taxation Can Help ?

At Groopacc Taxation, our CTA-qualified partners bring extensive knowledge and experience to assist clients in legally reducing their CGT liabilities. Our tailored CGT planning services have helped clients minimize tax burdens while ensuring compliance with current legislation.

Reliefs and Strategies We Offer

Entrepreneurs’ Relief:

We assist clients in qualifying for Entrepreneurs’ Relief, which provides a lower CGT rate for eligible business disposals.

Business Asset Roll-Over Relief:

Our experts advise on deferring CGT payments by rolling over gains into replacement business assets.

Investment Relief Schemes:

We guide clients through the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS), and Social Investment Relief Scheme (SITR) to reduce CGT liabilities effectively.

Incorporation Relief:

We provide advice on incorporating businesses, allowing gains to be deferred when transferring a business to a company.

Chattel Relief:

We help clients benefit from CGT relief on the disposal of personal possessions classified as chattels, such as antiques and works of art.

Private Residence Relief:

We assist in maximizing relief for individuals selling their main home, ensuring compliance with HMRC regulations.

Hold-Over Relief for Gifts:

For certain gifted assets, we advise on hold-over relief, enabling clients to defer CGT until the recipient disposes of the asset.

Negligible Value Relief:

We guide clients on claiming relief for assets that have become of negligible value.

Loan Loss Relief:

We provide advice on claiming relief for losses on certain qualifying loans.

Why Choose Groopacc Taxation ?

At Groopacc Taxation, we are committed to offering personalized and strategic advice tailored to your specific circumstances. By leveraging available reliefs and staying updated on tax law changes, we ensure that your CGT liabilities are minimized, and your financial goals are achieved.

Book a Consultation