CGT

Capital Gains Tax (CGT) applies to assets such as property (excluding your main home, subject to conditions), shares, business assets, and valuable items like antiques or artwork. Our team at Naail & Co can help identify which of your assets may be liable for CGT and advise on potential reliefs.

There are several strategies to minimize CGT liability, including making use of your Annual Exempt Amount, transferring assets to a spouse, or reinvesting gains into qualifying investments. At Naail & Co, we provide tailored tax planning to ensure you take advantage of all available reliefs and exemptions.

While inheriting assets itself is not subject to CGT, you may incur CGT if you later sell or dispose of the inherited asset and it has increased in value. Our experts can guide you through the tax implications of inherited assets and help you plan accordingly.

CGT on UK residential property sales must be reported and paid within 60 days of completion. For other assets, CGT is reported as part of your Self-Assessment Tax Return. At Naail & Co, we assist with timely reporting and accurate calculation of your CGT liabilities.

Yes, non-residents may be liable for CGT on disposals of UK property or land. Our international tax specialists at Naail & Co can help you navigate the rules and ensure compliance with UK tax regulations.

Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) allows eligible business owners to pay a reduced CGT rate of 10% on qualifying business disposals. We provide expert advice to help you determine eligibility and structure your transactions to benefit from this relief.

Tax planning ensures that dividends are distributed and pensions are contributed in a way that maximizes tax efficiency. We help business owners understand dividend tax rates, optimize pension contributions, and balance both to achieve the best financial outcomes.