Capital gains tax (CGT)

Your assets, protected

If you own a second home, a business, or stocks and shares, you may have to pay CGT – capital gains tax – on any gain you make when you sell them.

This can come as a surprise to some people and leave them confused and frustrated. That’s doubly true if the only source of information to hand is Government guidance, which isn’t always as clear as it could be.

At Langdowns DFK, we can help you navigate the complexities of CGT and, more importantly, plan in advance to minimise its impact. As always, that starts with taking the time to get to know you and your situation, and asking a few pointed questions.

We’ll explore options such as entrepreneurs’ relief, the enterprise investment scheme (EIS) and seed enterprise investment scheme (SEIS).

Another important step is reviewing your use of tax-free CGT allowances. Have you considered transferring capital assets to your partner to take advantage of their annual-exempt amount? Many people don’t and so end up paying more CGT than is necessary.

We can also advise on the timing of disposals. With property in particular, on which the CGT rate is higher, it makes sense to think carefully about when to sell for maximum return with the lowest tax bill.