Payroll Setup

 

Capital Gains Tax can arise when you dispose of capital assets such as land, buildings, shares and businesses.  Payroll Setup  Trust our expert team to provide you with accurate and helpful capital gains tax advice.Everyone is entitled to an annual exemption, but we can also advise on the other reliefs and deductions that may be applicable to your transaction. In appropriate cases, you may be able to pay Capital Gains Tax at a lower rate than Income Tax. CGT is a tax charged if you sell, give away, exchange or otherwise dispose of an asset and make a profit or 'gain'.It is not the amount of money you receive for the asset but the gain you make that is taxed. Broadly, to calculate the gain, you compare the sale proceeds (or value of the asset at the time it was disposed of) with the original cost of the asset (or value when it was acquired). This is illustrated below (click to enlarge): When you dispose of assets, such as shares, business interests, property and other investments you may have to pay capital gains tax, or CGT. The tax law is complicated, but we can help you understand the range of reliefs available that may reduce or remove your liability altogether.