Capital Gains Tax Advice in Ayr
For anyone intending to make a disposal of a business asset - such as a share of an unincorporated business, shares in a company or a property used in the business - capital gains tax (CGT) planning is crucial.
The basic principle is that CGT is charged on the difference between what was paid for an asset and what is received when the asset is sold, less whatever annual CGT exemption has not already been set against other gains. However, the rate of CGT payable varies - it can be 28%, 18%, 10% or even nil - and the rate you end up paying can often be determined by the CGT planning you do prior to the sale.
IDS + Co in Ayr can help you in the complex area of CGT planning. If you want to maximise your net proceeds it is vital that you consult with us well before a sale is made so that the CGT reliefs and exemptions which you might be entitled to claim are maximised. Our experienced specialists will guide you through the reliefs and options available to you to reduce or even eliminate your tax bill.
At IDS + Co areas we can assist with include:
- Planning a suitable structure of the business and ownership of any property from which the business is run
- Reliefs which can defer or eliminate capital gains
- Completion of tax computations
- Entrepreneurs' relief
For more capital gains tax advice or for general advice about business and personal tax, please contact our Ayr office.