Capital Gains Tax is a tax on the profit you gain when you sell an asset. Tax is charged on the profit made, not the amount you receive for the sale.
Examples of assets include:
Property
Listed securities – these are financial instruments which can be traded through an exchange (e.g. London Stock Exchange) such as stocks and bonds
Anyone who sells an asset in the UK will have to pay Capital Gains Tax.
We advise and support anyone, wherever they are based in the world, who has or intends to sell assets in the UK about what UK tax they will have to pay.
Capital Gains Tax (CGT) is an area often poorly understood – largely because few people actually end up paying it. It’s also an area that changes regularly – with recent changes to the annual exemptions, which mean that more people are now being caught by it as a tax.
Our approach is to provide clear answers to our clients when they’re considering the possible implications of CGT. The tax is payable not only by UK residents but by non-residents in certain circumstances.
For non-residents selling UK residential property, CGT can be complicated to navigate, and disclosure and payment of the tax is on a tight time-frame – just sixty days after conveyance.
What you can expect from us
Detailed knowledge of Capital Gains Tax rules
Timely delivery of CGT Returns for our clients
Unrelenting focus on the detail
Highly experienced team working for our clients
We will work with you on a timely basis to ensure your Capital Gains Tax obligations are met with accuracy. We work with you to ensure that you get an optimised outcome. Our detailed knowledge of expense allowances, reliefs and other mitigation strategies means that you can work with LSR Partners safe in the knowledge that you are getting the best tax outcome possible.
