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Capital Gains Tax (CGT)

Capital Gains Tax (CGT)

Capital Gains Tax applies to the profit made on selling or disposing of an asset that has appreciated in value. It is the increase in value that is subject to tax, not the total sale proceeds. Certain assets are exempt, and you’re not liable if your annual gains fall below your tax-free allowance.

In calculating your Capital Gains Tax, it’s vital to account for both the wins and the losses in your investments. Losses, which can be carried forward without time limit, might offset your gains and should be factored in alongside your annual exemption to optimise tax relief.

Please note that the Financial Conduct Authority (FCA) does not regulate taxation advice.

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This represents the maximum amount you can contribute to your pensions each year while still receiving tax relief. Understanding how to make the most of your annual allowance can significantly impact your long-term financial health.

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This form of relief progressively reduces the amount of tax you pay on gains for assets you've owned for a number of years, rewarding long-term investment strategies.

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Haven's expertise in financial and tax implications plays a crucial role in optimising the outcome of your business sale. We advise on structuring the sale to maximise profits and minimise tax liabilities, considering aspects such as Capital Gains Tax and reliefs that might be available, like Entrepreneurs’ Relief.

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When selling your property, we’ll help you consider potential tax liabilities and explore any available reliefs or exemptions, such as Private Residence Relief for primary homes. Our goal is to structure your sale in a way that minimises your tax burden while complying with all legal requirements.

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For investment companies, the strategic management of assets is crucial to achieving long-term growth and profitability. Our team can create a diversified investment portfolio that aligns with your company’s objectives, whether it’s capital preservation, income generation, or growth.

How is Capital Gains Tax Calculated?

CGT is calculated by subtracting the original purchase price and allowable expenses from the final sale price of the asset. The resulting figure is your ‘gain’, upon which CGT is levied.

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