Capital Gains Tax

You should plan in advance for capital gains tax. PetersonSims offers a tax planning service with a view to minimising your tax liabilities whilst ensuring compliance. Capital gains tax is often referred to as a voluntary tax. Depending on your circumstances and with careful advice, it is possible for individuals to reduce, totally avoid or delay payment of this tax.

Individuals are charged capital gains tax (CGT) in respect of gains made from selling, transferring or otherwise disposing of assets; such as property, businesses, shares, bonds, and even precious metals.

If you are considering disposing of a personal asset, all or part of your business then PetersonSims can advise on the CGT position before you make that disposal. There are many reliefs and exemptions which may be available, and which could lead to significant tax savings.

Capital Gains Tax for British Expats and Non-UK Residents with UK Property

The UK tax loophole which allowed overseas investors and British expats to avoid capital gains tax on the sale of residential property closed in 2015. Particularly affected are British expats and non-UK residents with UK property.

The sale of a UK property, which previously attracted no UK capital gains tax, could now incur a tax bill on any gains made after 6 April 2015.

If you are a non-UK resident, with a UK property, it is important that you understand the capital gains tax rules. PetersonSims can explain the full array of options and your compliance obligations.